Thule acquired United Welding Services (UWS) based in Perry, Florida. The company with annual sales of approx $40 million produces toolboxes and side steps. These are product categories supporting Thule's growth in load carrying solutions for professional users on the North American market.

“A large part of North American vehicles are pick-up trucks where toolboxes are an important category with high penetration. UWS high quality products provide great value to consumers and are the perfect add-on for this growth segment. Thule passes through this step one billion US Dollars in annual net sales on pro forma basis, bringing us closer to our financial objective of becoming a one billion Euro company by 2009”, says Anders Pettersson, CEO and President of Thule.

“We are excited to join the Thule family and we look forward to the opportunities this will provide to our employees and dealers”, remarks Jimmy Giddens, President of UWS. “Thule's products are internationally respected for their quality and innovation and we are proud to be a part of that.”

UWS will be integrated in Thule's North America Car Accessories business area which is headed out of Seymour, Connecticut. Thule in North America is now represented in all four product categories, totaling 30 per cent of overall Thule Group sales. Recently, Thule consolidated its North American trailer operations and divested the aluminum part of the business which was acquired in 2004.

The UWS acquisition is the 11th since launching the company's buy and build strategy in 2004 and the first under the ownership of Swedish private equity firm Nordic Capital which is new owner since June 2007. Thule's financial objective is to become a one billion Euro company by 2009. The growth shall be based on organic and acquired expansion in related business segments offering transportation solutions for active people, professional users and outdoor enthusiasts wanting to transport their equipment by vehicles safely, easily and in style.