November 28, 2014 - Assignment

Thule Group lists on Nasdaq Stockholm

Thule Group AB (publ) has been admitted to trading on Nasdaq Stockholm on 26 November 2014. The offering price was set at SEK 70 per share, corresponding to a market value of all shares issued by Thule Group of SEK 7.0 billion.

Nordic Capital (Nordic Capital Fund VI and Nordic Capital Fund VII) was the selling shareholder in the offering, which comprised an offering to the public in Sweden and an international offering to institutional investors. The offering comprised 30 million shares, corresponding to 30.0 per cent of the total number of shares in Thule Group (assuming the over-allotment option is exercised in full). In order to effect an equal pro rata sale (excluding sales that may be made under the over-allotment option) by all existing shareholders, transfers of shares to Nordic Capital from existing minority shareholders have been agreed. Nordic Capital retains an ownership share in Thule Group of 64.3 per cent (assuming the over-allotment option is exercised in full). In connection with the listing, the group’s Towing business was divested to existing shareholders of Thule Group.

Thule Group was founded in Sweden and today its products are sold in 136 countries. Thule Group is a global leader in the sport and cargo carriers markets and a leading company within the market for other outdoor products and bags.

Nordic Capital and Thule Group were advised by Mannheimer Swartling in the offering and the listing as well as in the divestment of the Towing business. The firm’s team consisted primarily of Peter Linderoth, Patrik Marcelius, Madeleine Rydberger, Nils Nostell, Karoline Lindow, Johan Berg, Aleksander Ivarsson, Teresa Hellmo Fahlander and Zackarias Ekman. Zoran Stambolovski, Hans Abrahamsson and Carl Johan Jennekvist advised on financing matters. Anders Erasmie and David Nordenlöw advised on tax matters.