a business unit of
has been acquired by
a portfolio company of
P&M Corporate Finance, LLC (“PMCF”) is pleased to announce that it served as the exclusive financial advisor to Thule Group AB (SE:THULE) (“Thule”) in its sale of United Welding Services, Inc. (“UWS”) to CURT Group, a leading marketing, engineering, manufacturing, and distribution company of towing products and truck accessories, and a portfolio company of Audax Private Equity.
Based in Perry, Florida, UWS is a premiere American manufacturer of aftermarket truck accessories and storage solutions for professionals and truck enthusiasts. The Company’s product offering includes crossover toolboxes, utility chests, side mounted boxes and liquid transfer tanks, among others. Its widely recognized brand name is known for its strength, reliability, and innovative products. Its blue chip customer base includes leading retailers, distributors, installers/dealers, and automotive OEMs.
The divestment gives Thule Group management the opportunity to focus on driving growth in its core business within its Outdoor & Bags business segment, and reaffirms CURT’s strategy in the aftermarket truck accessory space.
Lennart Mauritzson, CFO of Thule, remarked, “We are enthusiastic that UWS found a new home with CURT Group. CURT is a recognized leader in aftermarket truck and towing accessories, and the UWS products and customer base will enhance CURT’s position in this segment.” Mr. Mauritzson added, “The UWS team, as part of CURT Group, will provide world-class products and services to its customers through CURT’s expanded distribution network, and position the entity for future growth.”
PMCF was hired to serve as Thule Group’s investment banker and lead the sale process. Mr. Mauritzson noted, “We are very pleased with our choice to have PMCF lead the transaction process. Their expertise and significant involvement in every step of the transaction was critical to reaching a successful outcome. They were invaluable in helping us navigate the transaction and have earned our best recommendation.”
The transaction closed on June 16, 2017.
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