Thule Group has sold United Welding Services to CURT Group, a portfolio company of Audax Private Equity
Chicago, Illinois and Southfield – CFI USA (P&M Corporate Finance LLC) is pleased to announce that it served as the exclusive financial advisor to Thule Group AB (SE:THULE) (“Thule”) in its sale of United Welding Services, Inc. (“UWS”) to CURT Group, a leading marketing, engineering, manufacturing, and distribution company of towing products and truck accessories, and a portfolio company of Audax Private Equity.
Based in Perry, Florida, UWS is a premiere American manufacturer of aftermarket truck accessories and storage solutions for professionals and truck enthusiasts. The Company’s product offering includes crossover toolboxes, utility chests, side mounted boxes and liquid transfer tanks, among others. Its widely recognized brand name is known for its strength, reliability, and innovative products. Its blue chip customer base includes leading retailers, distributors, installers/dealers, and automotive OEMs.
The divestment gives Thule Group management the opportunity to focus on driving growth in its core business within its Outdoor & Bags business segment, and reaffirms CURT’s strategy in the aftermarket truck accessory space.
Lennart Mauritzson, CFO of Thule, remarked, “We are enthusiastic that UWS found a new home with CURT Group. CURT is a recognized leader in aftermarket truck and towing accessories, and the UWS products and customer base will enhance CURT’s position in this segment.” Mr. Mauritzson added, “The UWS team, as part of CURT Group, will provide world-class products and services to its customers through CURT’s expanded distribution network, and position the entity for future growth.”
Phil Gilbert and his team were hired to serve as Thule Group’s investment banker and lead the sale process. Mr. Mauritzson noted, “We are very pleased with our choice to have them lead the transaction process. Their expertise and significant involvement in every step of the transaction was critical to reaching a successful outcome. They were invaluable in helping us navigate the transaction and have earned our best recommendation.”
The transaction closed on 16 June 2017.
The testimonials may not be representative of the experience of other clients and are no guarantee of future performance or success.
Related
Automotive
has sold
to
a portfolio company of
Transaction details
CURT Group, a leading marketing, engineering, manufacturing, and distribution company of towing products and truck accessories and a portfolio company of Audax Private Equity, acquires United Welding Services from Thule Group, which is a premiere American manufacturer of aftermarket truck accessories and storage solutions for professionals and truck enthusiasts
Our latest transactions
Business Services
has acquired
Transaction details
Independent international consultancy R&D specialist Zabala Innovation Consulting has acquired ECDF
Food & Beverage & Agribusiness
has divested a 50% stake in
to
Transaction details
French canned tuna producer, Thunnus Overseas Group, has sold its remaining 50% stake to Parlevliet & van der Plas
Healthcare & Life Sciences
has been acquired by
Transaction details
Hybrisan, a MedTech company founded to solve problems of bioburden and biofilm in healthcare, has been acquired by Eumar Technology
Industrials
has been acquired by
Transaction details
Gothenburg-based Fläkt Marine AB has been acquired by FPI Group
