Compass Diversified Stock Price, News & Analysis

Marucci Sports, a subsidiary of Compass Diversified (CODI), has acquired Lizard Skins, enhancing its leading position in diamond sports and expanding into new markets like hockey and cycling. Founded in 1993, Lizard Skins is recognized for its innovative grip products and protective equipment, serving elite athletes across multiple sports including Major League Baseball and the NHL. This acquisition is expected to strengthen Marucci's product offerings and leverage Lizard Skins' technology to boost market presence.

Compass Diversified (CODI) will release its third-quarter financial results for the period ending September 30, 2021, on October 28, 2021, after market close. The Company will host a conference call at 5:00 p.m. ET on the same day to discuss these results. Key executives, including CEO Elias J. Sabo and CFO Ryan J. Faulkingham, will present. Investors can join by calling the provided numbers or listening to a live webcast available on CODI's website. A replay of the call will be available until November 4, 2021.

Compass Diversified (CODI) announced a definitive agreement to sell its majority-owned subsidiary, Advanced Circuits, to Tempo Automation for $310 million, including $240 million in cash and $70 million in Tempo stock. The deal allows CODI to repay outstanding borrowings and supports future growth. Following the transaction, Tempo Automation will merge with ACE Convergence Acquisition Corp., becoming Tempo Automation Holdings, Inc.. The closing is expected in Q1 2022, subject to regulatory approvals.

Tempo Automation has announced a definitive merger agreement with ACE Convergence Acquisition Corp. (NASDAQ: ACEV), creating a new entity named Tempo Automation Holdings, Inc., expected to trade under the ticker symbol TMPO. The combined company is projected to have an equity value of approximately $919 million and estimated revenues of $146 million for 2021. Tempo is also acquiring Advanced Circuits and Whizz Systems to enhance its manufacturing capabilities in the $290 billion electronics market. The transaction is set to close in Q1 2022.

Compass Diversified (CODI) has declared a quarterly cash distribution of $0.36 per common share, payable on October 22, 2021. This marks the first distribution following the company's transition to a corporate structure, enhancing its capital efficiency and shareholder value.

Additionally, distributions were announced for preferred shares: $0.453125 for Series A, $0.4921875 for Series B, and $0.4921875 for Series C, all payable on November 1, 2021. The company's strategy aims to leverage its permanent capital to drive sustained cash flow.

Altor Solutions, a subsidiary of Compass Diversified (NYSE: CODI), has acquired Plymouth Foam for $56 million, enhancing Altor's protective packaging capabilities in the cold chain sector. This acquisition aims to expand Altor's geographic presence and diversify its customer base across various markets, including food and beverage and pharmaceuticals. Altor's CEO, James Hughes, expressed confidence in leveraging Plymouth’s expertise and facilities to drive growth. CODI's CEO, Elias Sabo, highlighted the strategic importance of this investment in positioning Altor for future growth.

On September 7, 2021, Compass Diversified (CODI) announced its acquisition of Lugano Diamonds & Jewelry for an enterprise value of $256 million. Lugano, known for its high-end, unique jewelry, plans to leverage CODI's resources for geographical expansion and enhanced marketing efforts. Established in 2004 and based in California, Lugano boasts a reputation for intimacy and exclusivity in its client relations. Both companies' leadership teams aim to enhance Lugano's growth trajectory by utilizing CODI's capital and operational expertise.

Compass Diversified (NYSE: CODI) has completed a tax reclassification to be treated as a corporation for U.S. federal income tax purposes, effective September 1, 2021. This strategic move aims to simplify the tax structure, enhance liquidity, lower capital costs, and expand the shareholder base. Alongside this, CODI has announced a special cash distribution of $0.88 per share, payable on September 7, 2021. The reclassification is expected to create more opportunities for growth and improve the company's standing with ratings agencies, potentially leading to inclusion in stock indices.

Compass Diversified's subsidiary, 5.11 ABR Corp., has confidentially filed a draft registration statement on Form S-1 with the SEC for its planned initial public offering (IPO). The specific number of shares and pricing details remain undetermined, with the IPO expected to launch after SEC review and contingent upon market conditions. This announcement follows Rule 135 under the Securities Act of 1933, indicating it does not constitute an offer to sell or solicit purchases of securities.