Thule Group has hired London-based Rothschild to help spin off its two-bar business, which is worth $122 million a year, as it continues to refocus on the sports and outdoor sector. The Swedish group closed the sale of its entire trailer business to Accent Equity 2012, a Swedish investment fund, in May this year as part of the same strategy. The plan is to divest the company within 12 months of spinning it off. The spin-off includes development and production facilities in the Netherlands and France as well as a number of sales offices. The new company will be headquartered in Staphorst, Netherlands and will be headed by Gerrit de Graaf, the current business area president. After the spin-off of the tow bar business, the company will have around 2,450 employees at 25 production facilities and sales offices worldwide. Thule's products are sold in 136 markets and its sales in 2013 reached SEK4.3 billion (€470,89m-$640.32m).

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