November 29, 2024
Melbourne-based Quad Lock, an early adopter of both Azolla Ethical Certified and Azolla Environmental Certified programmes, has been acquired by Swedish outdoor lifestyle giant Thule in a deal valuing the company at $500 million. This landmark transaction not only represents a significant Australian entrepreneurial success story but also demonstrates how commitment to responsible manufacturing practices can drive global business success.
Founded in 2011 as a Kickstarter project, Quad Lock has grown from innovative startup to global leader in smartphone mounting systems for bikes, cars, and boats. Under Quadrant Private Equity's stewardship since 2020, the company has seen extraordinary growth, with sales surging from $48 million to over $200 million, and earnings rising from $10 million to $50 million.
As an early case study for Azolla Certified, Quad Lock exemplified how businesses can scale globally while maintaining rigorous standards across their operations. "I would highly recommend the Azolla Certified process to anyone looking to take their ethical and sustainability efforts to the next level. It has been an invaluable experience for our company and we are proud to have our products recognised as being Azolla Certified," the company stated during their certification process.
The acquisition by Thule, known globally for their commitment to sustainability and quality, further validates Quad Lock's approach to responsible manufacturing. This alignment of values demonstrates how strong ESG credentials can enhance a company's attractiveness to major international buyers.
Quad Lock chose Azolla Certified to provide concrete, firsthand evidence of their factories' ethical and environmental operations, setting a benchmark for Australian manufacturers. Their success shows that prioritising sustainable practices and supply chain transparency isn't just about compliance – it's a strategic advantage in today's global marketplace.
The deal structure, which includes both cash and Thule shares for the founders and Quadrant, ensures ongoing alignment between all parties and demonstrates confidence in the combined entity's future growth potential.
This success story sets a powerful example for Australian businesses, showing that commitment to sustainable manufacturing can go hand in hand with rapid growth and commercial success.
*Source: Australian Financial Review*