Compass Diversified-Backed Altor Solutions Completes Acquisition of Lifoam Industries
Compass Diversified (NYSE: CODI) announced that its subsidiary, Altor Solutions, has completed the acquisition of Lifoam Industries, for an enterprise value of $137 million. Lifoam, founded in 1954, is a leading manufacturer of temperature-controlled packaging products for healthcare, commercial, and retail industries. The acquisition, previously announced on August 15, 2024, is expected to enhance Altor's market reach and cold-chain technology capabilities.
Terry Moody, CEO of Altor, emphasized the valuable infrastructure and specialized expertise Lifoam brings to the company. Elias Sabo, CEO of Compass Diversified, highlighted the acquisition as a significant advancement in Altor's long-term strategy, enhancing their capabilities and expanding their customer base.
Compass Diversified (NYSE: CODI) ha annunciato che la sua controllata, Altor Solutions, ha completato l'acquisizione di Lifoam Industries, per un valore complessivo di 137 milioni di dollari. Fondata nel 1954, Lifoam è un produttore leader di prodotti per imballaggio a temperatura controllata per i settori sanitario, commerciale e al dettaglio. L'acquisizione, precedentemente annunciata il 15 agosto 2024, dovrebbe migliorare la portata di mercato di Altor e le capacità tecnologiche della catena del freddo.
Terry Moody, CEO di Altor, ha sottolineato l'infrastruttura preziosa e l'esperienza specializzata che Lifoam porta all'azienda. Elias Sabo, CEO di Compass Diversified, ha evidenziato l'acquisizione come un importante passo avanti nella strategia a lungo termine di Altor, potenziando le loro capacità e ampliando la loro base clienti.
Compass Diversified (NYSE: CODI) anunció que su subsidiaria, Altor Solutions, ha completado la adquisición de Lifoam Industries, por un valor empresarial de 137 millones de dólares. Lifoam, fundada en 1954, es un fabricante líder de productos de empaque controlados por temperatura para los sectores de salud, comercial y minorista. Se espera que la adquisición, anunciada previamente el 15 de agosto de 2024, mejore el alcance de mercado de Altor y sus capacidades tecnológicas de cadena de frío.
Terry Moody, CEO de Altor, enfatizó la valiosa infraestructura y la experiencia especializada que Lifoam aporta a la empresa. Elias Sabo, CEO de Compass Diversified, destacó la adquisición como un avance significativo en la estrategia a largo plazo de Altor, mejorando sus capacidades y ampliando su base de clientes.
Compass Diversified (NYSE: CODI)는 자회사 Altor Solutions가 Lifoam Industries를 1억 3천7백만 달러에 인수 완료했다고 발표했습니다. 1954년에 설립된 Lifoam은 의료, 상업 및 소매 산업을 위한 온도 제어 포장 제품의 선도적인 제조업체입니다. 2024년 8월 15일에 이전에 발표된 이 인수는 Altor의 시장 범위 및 냉체인 기술 능력을 향상시킬 것으로 예상됩니다.
Altor의 CEO인 Terry Moody는 Lifoam이 회사에 가져다주는 가치 있는 인프라와 전문 지식을 강조했습니다. Compass Diversified의 CEO인 Elias Sabo는 이 인수를 Altor의 장기 전략의 중요한 발전으로 강조하며, 이는 그들의 능력을 향상시키고 고객 기반을 확장하는 데 기여할 것입니다.
Compass Diversified (NYSE: CODI) a annoncé que sa filiale, Altor Solutions, a achevé l'acquisition de Lifoam Industries pour une valeur d'entreprise de 137 millions de dollars. Fondée en 1954, Lifoam est un fabricant leader de produits d'emballage contrôlés par la température pour les secteurs de la santé, du commerce et de la vente au détail. L'acquisition, précédemment annoncée le 15 août 2024, devrait améliorer la portée du marché d'Altor et ses capacités technologiques de chaîne du froid.
Terry Moody, CEO d'Altor, a souligné l'infrastructure précieuse et l'expertise spécialisée que Lifoam apporte à l'entreprise. Elias Sabo, CEO de Compass Diversified, a qualifié l'acquisition de progrès significatif dans la stratégie à long terme d'Altor, renforçant ainsi leurs capacités et élargissant leur base de clients.
Compass Diversified (NYSE: CODI) gab bekannt, dass ihre Tochtergesellschaft Altor Solutions die Übernahme von Lifoam Industries für einen Unternehmenswert von 137 Millionen Dollar abgeschlossen hat. Lifoam, 1954 gegründet, ist ein führender Hersteller von temperaturkontrollierten Verpackungsprodukten für die Gesundheits-, Handels- und Einzelhandelsbranche. Die am 15. August 2024 zuvor angekündigte Übernahme soll Alcors Marktanteil und die Möglichkeiten der Kaltketten-Technologie verbessern.
Terry Moody, CEO von Altor, betonte die wertvolle Infrastruktur und die spezielle Expertise, die Lifoam in das Unternehmen einbringt. Elias Sabo, CEO von Compass Diversified, hob die Übernahme als einen bedeutenden Fortschritt in Altors langfristiger Strategie hervor, was deren Fähigkeiten stärkt und die Kundenbasis erweitert.
- Acquisition completed for $137 million enterprise value
- Enhances Altor's market reach and cold-chain technology capabilities
- Expands Altor's ability to serve existing and new customers
- Adds valuable infrastructure and specialized expertise to Altor
- None.
Insights
The acquisition of Lifoam Industries by Altor Solutions, a subsidiary of Compass Diversified (CODI), is a significant strategic move with potential long-term benefits. The
This acquisition is likely to strengthen CODI's position in the protective packaging sector, particularly in temperature-controlled solutions for healthcare and retail industries. The synergies between Altor and Lifoam could lead to improved operational efficiencies and expanded product offerings, potentially driving revenue growth and margin expansion.
For investors, this move signals CODI's commitment to growing its portfolio companies through strategic acquisitions. The deal's impact on CODI's financials will be worth monitoring in upcoming quarters, particularly in terms of revenue contribution and any potential integration costs.
The acquisition of Lifoam Industries by Altor Solutions represents a strategic expansion in the specialized packaging market. This move is particularly timely given the growing demand for temperature-controlled packaging solutions in healthcare and e-commerce sectors.
The deal positions Altor to capitalize on the increasing need for cold-chain logistics, driven by factors such as the rise in pharmaceutical and perishable goods shipments. By enhancing its capabilities in thermal shippers and refrigerant gel packs, Altor is aligning itself with market trends favoring sophisticated packaging solutions.
Investors should note the potential for cross-selling opportunities and market share growth resulting from this acquisition. The combined expertise of Altor and Lifoam could lead to innovative product developments, potentially setting new industry standards and creating barriers to entry for competitors.
WESTPORT, Conn., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE: CODI) today announced that its subsidiary, Altor Solutions (“Altor”), a leading designer and manufacturer of custom protective and cold-chain packaging solutions for the industrial and life sciences markets, completed its previously announced acquisition of Lifoam Industries, LLC (“Lifoam”), pursuant to the agreement entered into on August 15, 2024.
The acquisition was completed for an enterprise value of
Founded in 1954, Lifoam is a leading manufacturer of temperature-controlled packaging products such as thermal shippers and refrigerant gel packs for the healthcare, commercial and retail industries. Lifoam is a carve-out of the material sciences company Jadex Inc.
“The addition of Lifoam will bring valuable new infrastructure and specialized expertise to Altor, specifically through the enhancement of our market reach and advancements in our cold-chain technology,” said Terry Moody, CEO of Altor. “We look forward to the combined success of Altor and Lifoam as we drive growth together.”
“We are pleased to announce the closing of Altor’s acquisition of Lifoam, and we welcome them to the CODI team,” said Elias Sabo, CEO of Compass Diversified. “This acquisition represents a significant advancement in Altor’s long-term strategy, enhancing their capabilities and expanding their ability to serve both existing and new customers.”
About Altor Solutions
Based in St. Louis, Missouri, Altor Solutions is an innovative, engineering-focused company dedicated to designing and manufacturing top-quality industrial protective packaging products and cold-chain packaging solutions and services for the life sciences and perishable goods sectors. Established in 1957, Altor Solutions offers a diverse range of materials, including traditional plastics and sustainable, plant-based options. The company operates 16 advanced facilities across North America, specializing in the production and assembly of essential components for protective packaging, OEM parts, and temperature-controlled containers. For more information, please visit www.altorsolutions.com.
About Lifoam
Lifoam Industries, LLC is a leading manufacturer of thermally controlled packaging solutions. Founded in 1954, Lifoam operates seven state-of-the-art manufacturing, warehousing and distribution facilities across the United States, specializing in the production of EPS coolers, refrigerant gels, and innovative packaging solutions tailored for healthcare/pharmaceutical, seafood/commercial, and retail end markets. With a commitment to sustainability and innovation, Lifoam is at the forefront of developing environmentally-friendly packaging alternatives. For more information, please visit www.lifoam.com.
About Compass Diversified
Since its IPO in 2006, CODI has consistently executed its strategy of owning and managing a diverse set of highly defensible, middle-market businesses across the industrial, branded consumer and healthcare sectors. The Company leverages its permanent capital base, long-term disciplined approach, and actionable expertise to maintain controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. 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 has consistently generated strong returns through its culture of transparency, alignment and accountability. For more information, please visit www.compassdiversified.com.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with regard to the expectations related to the future performance of Lifoam, Altor and CODI. Words such as "believes," "expects," “will,” “anticipates,” “intends,” “continue,” "projects," “potential,” “assuming,” and "future" or similar expressions, are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions, some of which are not currently known to CODI. In addition to factors previously disclosed in CODI’s reports filed with the SEC, the following factors, among others, could cause actual results to differ materially from forward-looking statements: difficulties and delays in integrating Lifoam’s business or fully realizing cost savings and other benefits; business disruption following the closing of the transaction; changes in the economy, financial markets and political environment; risks associated with possible disruption in CODI’s operations or the economy generally due to terrorism, natural disasters, social, civil and political unrest or the COVID-19 pandemic; future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); and other considerations that may be disclosed from time to time in CODI’s publicly disseminated documents and filings. Further information regarding CODI and factors which could affect the forward-looking statements contained herein can be found in CODI’s annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Forward-looking statements speak only as of the date they are made. Except as required by law, CODI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations
irinquiry@compassdiversified.com
Gateway Group
Cody Slach
949.574.3860
CODI@gateway-grp.com
Media Relations
Mediainquiry@compassdiversified.com
The IGB Group
Leon Berman
212.477.8438
lberman@igbir.com
FAQ
What company did Altor Solutions acquire and for how much?
What are the main products of Lifoam Industries?
How will the acquisition of Lifoam benefit Altor Solutions?
When was the acquisition of Lifoam by Altor Solutions initially announced?
