Compass Diversified Holdings (NYSE: CODI) has closed an underwritten public offering of 5,000,000 of its common shares. According to the update, Compass Diversified Holdings secured approximately $88 million in gross proceeds, with each of the shares sold at the public offering price of $17.60. The Company has also granted the underwriters a 30-day option to purchase up to an additional 750,000 common shares. Compass Diversified Holdings intends to use proceeds from the offering to repay a portion of the outstanding balance of its revolving credit facility. ROTH Capital Partners acted as a co-manager for the offering.
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About Compass Diversified Holdings (“CODI”)
CODI owns and manages a diverse family of established North American middle market businesses. Each of its current subsidiaries is a leader in its niche market.
CODI maintains controlling ownership interests in each of its subsidiaries in order to maximize its ability to impact long-term cash flow generation and value. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and to make cash distributions to its shareholders.
Its nine majority-owned subsidiaries are engaged in the following lines of business:
- The design and marketing of purpose-built technical apparel and gear serving a wide range of global customers (5.11);
- The manufacture of quick-turn, small-run and production rigid printed circuit boards (Advanced Circuits);
- The manufacture of engineered magnetic solutions for a wide range of specialty applications and end-markets (Arnold Magnetic Technologies);
- The design and marketing of wearable baby carriers, strollers and related products (Ergobaby);
- The design and manufacture of custom molded protective foam solutions and OE components (Foam Fabricators);
- The design and manufacture of premium home and gun safes (Liberty Safe);
- The design and manufacture of baseball and softball equipment and apparel (Marucci Sports);
- The manufacture and marketing of portable food warming systems, creative indoor and outdoor lighting, and home fragrance solutions for the foodservice industry and consumer markets (Sterno); and
- The design, manufacture and marketing of airguns, archery products, optics and related accessories (Velocity Outdoor).
For more information, please visit www.CompassEquity.com.
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