NEWS HUB
Thule acquires Quad Lock
THULE GROUP has signed an agreement to acquire Quad Lock. On sharing the news, Mattias Ankarberg,
president and CEO of Thule Group stated: “We are taking Thule to the next level, and we are doing it by building on our strengths.” Thule Group hopes the purchase of Quad
Lock will strengthen its position in the Asia-Pacific region, where the acquisition increases the share of Thule’s sales from “about 5% to 10%”. Direct sales to consumers will increase from approximately 7% to 15% 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. The purchase price amounts to
approximately £255 million. Quad Lock, which has a turnover of SEK
1.4 billion (£10million) with a 25% EBITDA margin, is said to fit well with Thule’s brand and strategy of developing market-leading
positions in attractive niches. Quad Lock reports sales in approximately 100 countries, of which some 75% take place via e-commerce, direct-to- consumer.
Extra UK to distribute Scope Cycling
EXTRA UK has announced an exclusive distribution agreement with Scope Cycling for the UK, and Ireland via Irish subsidiary Cyclex. Scope’s wheel range covers three price points, from
£899.99 to £3,499.99 SRP, across both road and all-road. Last month, the brand also unveiled premium Artech gravel
and TT/triathlon wheelsets, due in March. Nieck Busser, Scope co-founder, comments: ‘We are looking forward to working with Extra UK. “They have a strong dealer base thanks to their well-
Life Cycle partners with Cytech to deliver courses in prisons
LIFE CYCLE has announced a new partnership with Cytech, bringing bike maintenance courses to Bristol and Leicester while boosting the charity’s social impact in prisons and communities. Building on 10 years’ experience delivering accredited cycle mechanics training, Life Cycle launched its new Cytech courses in HMP Bristol and HMP Fosse Way this October. Prison-based participants learn to refurbish donated bikes, saving them from landfill and returning them to local people as safe and sustainable modes of transport. In addition to the prison-based courses, Life Cycle will expand to the public in the coming months.
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curated portfolio of brands and their knowledgeable team is supported by robust logistics and their own local service centre. This partnership will allow us to serve our Scope
dealers in the best way possible.” Some SKUs are available now, with more due in Q1 2025.
Citrus-Lime adds Oakley to its suite of integrated suppliers
CITRUS-LIME has added Oakley to its raft of integrated suppliers for UK cycle dealers. The full range of cycling glasses and helmets are available on its Supplier Integration Module (SIM) and AutoSIM.
“This is a major coup for us”, said Patrick Adamson, Citrus-
Lime’s AutoSIM team leader. “Having Oakley data means retailers can access fast,
accurate item information at the push of a button. They can also go one step further by populating their website’s product pages with detailed product descriptions to help them sell more online.”
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