Nordic Capital's Thule Group to split towbar division

The news comes just over a month after it was reported that Nordic Capital was preparing the sports and utility transportation equipment business for an IPO. Brink was deemed to no longer be relevant to Thule's core business.

Both Thule and Brink will continue to be owned by Nordic Capital Fund VI and VII, and former Thule CEO Anders Petterson will become the new chairman of Brink. Gerrit de Graaf, the current head of Thule's towing division, will be CEO of the new company.

Brink was first acquired by Thule in 2006 and was rebranded under its parent's name.

Nordic Capital acquired Thule from Candover in 2007 – the deal was estimated to be valued at €1.3bn.

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• Topics
• Nordics
• Portfolio management
• Sweden
• Nordic Capital