Nordic Capital sells SEK 2bn stake in Thule Group

The partial exit saw Nordic Capital sell 18,673,397 shares at SEK 108 apiece, netting the GP's Nordic Capital Funds VI and VII a total of SEK 1.979bn. SEK 108 per share represents a 54% increase on the company's share price when it was introduced to the public market.

Nordea and Goldman Sachs International were joint bookrunners in the accelerated bookbuilding process, which reduced Nordic Capital's holding in Thule to 10.5%.

Following the latest share sell-down, Nordic Capital has agreed to a 60-day lock-up period on its remaining stake in Thule.

Previous funding
After listing the company in a SEK 7bn IPO on Nasdaq OMX Stockholm in late 2014, Nordic Capital sold a SEK 2bn block of shares in June 2015, followed by a SEK 1.575bn chunk in November.

Company
Headquartered in Malmö, Thule is a manufacturer of carrier products, such as rooftop cargo boxes for cars, bike carriers and smartphone covers.

The group was founded in 1942 and reported revenues of SEK 4.7bn in 2014.

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• Topics
• Exits
• Consumer
• Nordics
• Partial sale
• Nordic Capital
• Sweden
• Nordea
• Goldman Sachs