Thule Group AB (Sweden) → Quad Lock Pty Ltd
completedDeal announced2024-11-11
BuyerThule Group AB (Sweden)
SellerQuad Lock Pty Ltd
SectorAutomotive/Phone Accessories
ValueA$500.0M
Deal typeM&A
Swedish outdoor/automotive group Thule acquired Quad Lock, the global market leader in performance phone mounts, from Quadrant Private Equity and founders for A$500 million (cash and debt free basis, ~10x adjusted EBITDA), completing 4 December 2024.
Why the buyer wanted it
Thule wanted the global category leader in phone-mounting systems to add to its outdoor/ automotive accessories portfolio.
Why the seller agreed
Quadrant Private Equity and the founders exited at a strong multiple after growing the business into the global market leader in its category.
Stock reaction
Not applicable — Quad Lock was privately held.
Deal mechanics
Deal structure
80% cash / 20% newly issued Thule shares
Valuation multiple
10x adjusted EBITDA (last twelve months to 31 October 2024)
Regulatory approval
Conditional on Australian Foreign Investment Review Board approval