Thule Group acquires Quad Lock, the global market leader in performance phone mounts

“We are taking Thule to the next level, and we are doing it by building on our strengths. Our profitable growth is driven by our ability to develop market-leading positions in attractive niches. We have proven this in categories where we have been present for a long time, such as roof top boxes, and in categories we have acquired such as multisport and bike trailers,” says Mattias Ankarberg, President and CEO of Thule Group. “Quad Lock is a global market leader in its niche and, like Thule, has a passion for creating the best products for active adventurers, with a strong focus on quality and innovation. Welcoming Quad Lock’s talented employees to the Thule family strengthens us in several areas and is a valuable step towards our financial targets for 2030; sales of SEK 20 billion and an EBIT margin of at least 20 percent.”

Quad Lock started in 2011 when the two Australian founders invented a secure and user-friendly solution to mount mobile phones on their mountain bikes. The product range has evolved rapidly and today Quad Lock is the global market leader in performance phone mounts with the broadest range of high-quality and robust solutions for biking, motorcycling, and off-road car enthusiasts.

Quad Lock has sales in approximately 100 countries, of which about 75 percent are via e-commerce direct-to-consumers. The head office is based in Melbourne, Australia. The company had approximately SEK 1.4 billion in sales in the last twelve months and achieved an EBITDA margin of 25%.

“We are excited to become part of the Thule Group,” said Andrew Poole, CEO of Quad Lock. “It’s striking how similar our brands and cultures are. Like Thule, we focus on high-quality products that can withstand harsh conditions and are appreciated by customers who love adventure. This market is growing rapidly, and we look forward to tackling the many growth opportunities together. As a management team, we also appreciate becoming Thule shareholders as part of this transaction and getting the opportunity to take part in the future value creation of our combined companies.”

Quad Lock also helps to strengthen Thule Group’s position in the Asia-Pacific region, where the acquisition increases the share of Thule’s sales from about 5 to 10 percent. Direct sales to consumers will increase from approximately 7 to 15 percent of sales. In addition, Thule will gain access to a customer base of motorcycle enthusiasts, which is Quad Lock’s largest segment, as well as expertise in electronics such as wireless charging of mobile phones on motorcycles.