Welcome to our dedicated page for Compass Diversified news (Ticker: CODI), a resource for investors and traders seeking the latest updates and insights on Compass Diversified stock.
Compass Diversified Holdings, trading under the symbol CODI, is a diversified business conglomerate based in the United States. Since its founding in 1998, the company has focused on the middle market space, maintaining the same strategy and philosophy: acquiring companies with a clear 'reason to exist' that they could own forever.
CODI operates through two primary segments: branded consumer businesses and industrial businesses.
Branded consumer businesses are those that leverage a valuable brand name in their respective markets. The portfolio includes well-known names like 5.11, Ergobaby, Liberty Safe, and Velocity Outdoor.
Industrial businesses focus on manufacturing and selling specific products and services within defined market sectors. These operations extend globally, including regions like Canada, Europe, Asia Pacific, and other international areas.
Recent achievements highlight CODI’s commitment to growth and innovation. A significant capital infusion has further boosted the company's liquidity, positioning it for accelerated growth. Additionally, CODI's unique business model and significant competitive advantage continue to drive strong results.
Noteworthy recent developments include the enhanced positioning of The Honey Pot Company, a leading feminine care brand, through CODI resources. The brand offers plant-derived, clinically tested formulas available in over 33,000 stores across the U.S., including major retailers like Target, Walmart, CVS, and Walgreens.
CODI is dedicated to partnering with outstanding management teams, providing them with patient growth capital. The company’s approach ensures a stable operational environment, embracing positive change as a catalyst for growth while remaining true to its foundational values.
For investor relations, please contact: irinquiry@compassdiversified.com or Gateway Group's Cody Slach at 949.574.3860. For media inquiries, reach out to mediainquiry@compassdiversified.com or The IGB Group's Leon Berman at 212.477.8438.
Compass Diversified Holdings (NYSE: CODI) announced the retirement of director James J. Bottiglieri, who will step down prior to the company's 2025 annual shareholders meeting. Bottiglieri, who joined the Board in December 2005, previously served as the Company's Chief Financial Officer and Executive Vice President from 2005 to 2013.
The company does not plan to fill the Board vacancy created by Bottiglieri's retirement. During his tenure, Bottiglieri played a important role in CODI's initial public offering in 2006 and established strong financial controls and shareholder transparency measures. He will continue serving on the company's Nominating and Corporate Governance Committee and Audit Committee until the 2025 Annual Meeting.
Compass Diversified (NYSE: CODI) has scheduled its fourth quarter and full year 2024 earnings release for Thursday, February 27, 2025, after market close. The company will host a conference call at 5:00 p.m. ET / 2:00 p.m. PT on the same day to discuss the results.
The earnings call will feature CEO Elias Sabo, CFO Stephen Keller, and Compass Group Management COO Pat Maciariello. Investors can access the live webcast through CODI's Investor Relations website, with dial-in details available through a registration link. Participants are encouraged to join 15 minutes before the scheduled start time to avoid delays.
Compass Diversified Holdings (NYSE: CODI) has announced a significant amendment to its Management Services Agreement with Compass Group Management , effective January 1, 2025. The new structure introduces a tiered base management fee system and an incentive management fee.
The base management fee will be:
- 2.0% for adjusted net assets up to $3.5 billion
- Initial threshold fee plus 1.25% for assets between $3.5-10 billion
- 1.5% for assets of $10 billion or more
An additional incentive fee of 0.25% applies on assets exceeding $3.5 billion (up to $10 billion), contingent on achieving a three-year annualized internal rate of return above 12% and requires Compensation Committee approval. The amendment also eliminates integration services fees and excludes excess cash from adjusted net assets calculations.
Compass Diversified Holdings (NYSE: CODI) has announced a significant amendment to its Credit Agreement with Bank of America on January 9, 2025. The amendment includes two key components: an immediate $200 million Incremental Term Loan and $100 million in Delayed Draw Term Loan Commitments available until July 9, 2025.
The funds will support new acquisitions, working capital, capital expenditures, and general corporate purposes. The Incremental Term Loan requires quarterly repayments ranging from $3.75 million to $11.25 million starting March 31, 2025, with final payment due July 12, 2027. The Delayed Draw Term Loan allows for up to two draws and can be reduced or terminated with five days' notice.
Compass Diversified Holdings (NYSE: CODI) announced changes to its Board of Directors. Director Gordon M. Burns will not seek re-election at the 2025 annual shareholders meeting and stepped down as Chair of the Nominating & Corporate Governance Committee on January 3, 2025. Burns, who joined the Board in 2008, will remain on the Board and as a member of both the Nominating and Compensation Committees until the 2025 meeting.
Nancy B. Mahon, who has served as a director since May 2023, has been appointed as the new Chair of the Nominating Committee. Mahon currently serves as Chief Sustainability Officer at The Estée Lauder Companies and holds a juris doctor degree from NYU School of Law.
Compass Diversified (NYSE: CODI) announced its Board of Directors has declared quarterly cash distributions for the fourth quarter of 2024. A distribution of $0.25 per share will be paid on January 23, 2025, to holders of Common Shares as of January 16, 2025. Additionally, distributions for the Series A, B, and C Preferred Shares have been declared. Series A Preferred Shares will receive $0.453125 per share, Series B Preferred Shares will receive $0.4921875 per share, and Series C Preferred Shares will also receive $0.4921875 per share. These distributions will be paid on January 30, 2025, to holders of record as of January 15, 2025.
The distributions should generally be considered qualified dividends for U.S. federal income tax purposes, provided the requisite holding period is met. However, CODI does not expect all distributions paid in 2024 to be qualified dividends due to expected earnings and profits being below cash distributions. Any excess will be treated as a non-taxable return of capital or capital gain. Final tax statuses for 2024 and 2025 distributions will be reported in early 2025 and 2026, respectively.
Highlander Partners has announced the acquisition of Ergobaby from Compass Diversified (NYSE: CODI). Founded in 2003 and based in Los Angeles, Ergobaby is the global market leader in premium baby carriers, operating through a workforce of 170 employees across more than 1,800 retail locations in over 75 countries.
The company manages three main brands: Ergobaby (flagship premium baby carriers), Tula (functional carriers with expressive prints), and Belly Bandit (maternity and postpartum solutions). Their product line includes carriers, wraps, strollers, bouncers, highchairs, and various maternity accessories.
Highlander Partners plans to pursue growth through product innovation, market expansion, and implementing a "buy and build" strategy with potential M&A opportunities in the juvenile products market.
Compass Diversified (NYSE: CODI) has announced the sale of its majority-owned subsidiary, Ergobaby, to Highlander Partners, L.P., a Dallas-based private investment firm. The transaction was simultaneously agreed upon and completed. Proceeds from the sale will be allocated towards debt reduction and general corporate purposes.
Ergobaby, known for its premium juvenile products, will transition to new ownership under Highlander. CODI's CEO Elias Sabo expressed pride in Ergobaby's position as a global leader and indicated plans to continue acquiring and managing innovative brands to drive long-term shareholder value.
Compass Diversified (NYSE: CODI) has announced its upcoming investor day scheduled for January 16, 2025, at Convene's One Liberty Plaza in New York City. The event will run from 9:30 AM to 1:30 PM ET and will feature multiple segments including:
• A presentation and Q&A session with CODI's executive management team
• A panel discussion moderated by CEO Elias Sabo featuring CEOs from 5.11 Tactical, PrimaLoft, and Altor Solutions
• A self-guided interactive tour showcasing CODI's 10 businesses
• Continental breakfast and lunch
Interested parties can attend either in-person by RSVPing to CODI@gateway-grp.com or virtually through a webcast link. Virtual attendees are advised to allow extra time for necessary software downloads.
Compass Diversified (NYSE: CODI) reported strong Q3 2024 financial results with net sales up 11.8% to $582.6 million. The company saw double-digit sales growth driven by Branded Consumer businesses, while Industrial businesses showed low single-digit growth. Key highlights include:
- Income from continuing operations of $31.5 million vs previous loss of $14.0 million
- Adjusted EBITDA up 28% to $114.0 million
- Adjusted Earnings increased 65% to $48.7 million
- Announced $100 million share repurchase program
- Raised 2024 outlook with expected consolidated pro-forma subsidiary Adjusted EBITDA between $510-525 million
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What is The Honey Pot Company?
