Baker McKenzie acted as legal advisor to Thule Group, a global sports and outdoor company, in the acquisition of Quad Lock, the global market leader in performance phone mount solutions. The purchase price amounted to AUD 500 million or approximately SEK 3.6 billion.
Led by partner Anders Fast with support from Henric Roth in Stockholm and Greg Smith in Sydney, Baker McKenzie’s multi-jurisdictional team consisted of lawyers from our offices in Sweden, Australia, Belgium, the Netherlands, Hong Kong and China. The core team consisted of Daniel Ravikovitch in Australia, Peder Oxhammar in Sweden, Sara Derhab in Brussels as well as Lu Wenting in Hong Kong.
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 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%.
Thule Group is a global sports and outdoor company that develops, manufactures and markets products within the product categories Sport & Cargo Carriers, Juvenile & Pet Products, RV Products and Packs, Bags & Luggage. Thule Group has about 2,600 employees at nine production facilities and 35 sales offices worldwide. The Group’s products are sold in 138 markets and in 2023, sales amounted to SEK 9.1 billion.
