Compass Diversified - CODI STOCK NEWS

Foam Fabricators, a leader in custom protective packaging, has rebranded as Altor Solutions. This change reflects its expansion beyond molded foam into a full-service provider of Packaging, Insulation and Componentry (PIC). Supported by Compass Diversified (NYSE: CODI), the company aims to enhance its product offerings and geographic reach. The rebranding aligns with a growing demand for protective packaging solutions and positions Altor as a partner in solving complex customer challenges. Founded in 1957, Altor operates 17 facilities across North America.

Compass Diversified (NYSE: CODI) has declared a quarterly cash distribution of $0.36 per share on its Common Shares, payable on January 22, 2021. Additionally, quarterly distributions for its Series A, B, and C Preferred Shares were announced at $0.453125, $0.4921875, and $0.4921875 per share, respectively, all payable on January 30, 2021. The distributions reflect the Company’s continued commitment to shareholder returns and its focus on growth strategies, emphasizing its capital allocation approach and diverse subsidiary portfolio.

Compass Diversified (NYSE: CODI) is hosting its 2020 Virtual Investor Day today at 1:00 PM ET, highlighting its strong performance and growth strategy. CEO Elias Sabo emphasized the company's permanent capital model as a key advantage in today's market. The event features presentations from BOA Technology, acquired in October, showcasing its fit solutions and market expansion. CODI’s robust financial position, including successful acquisitions like Marucci Sports and BOA, strengthens its portfolio diversity and growth potential, with expectations for exceeding 2020 guidance.

Foam Fabricators, a leader in custom protective packaging solutions, will support the U.S. COVID-19 vaccine distribution using its twelve advanced manufacturing facilities. The company specializes in lightweight, low-cost, and recyclable EPS molded insulated containers that ensure temperature control for vaccine storage. Acquired by Compass Diversified (NYSE: CODI) in 2018, Foam Fabricators has a 60-year track record and extensive industry experience. They previously assisted with the H1N1 vaccine in 2009, demonstrating their capability to address significant logistical challenges.

Compass Diversified (CODI) will host a virtual investor day on December 10, 2020, at 1:00 PM ET. The event will feature presentations from the management team and its subsidiary, BOA Technology, followed by a Q&A session. Interested participants can pre-register and access the live video webcast. CODI focuses on owning and managing leading middle market businesses, leveraging long-term capital and expertise to drive growth and value creation.

Compass Diversified (CODI) reported robust third-quarter results with net sales of $418.9 million, up from $388.3 million in Q3 2019. The company achieved a net income of $20.9 million, reversing a net loss of $26.5 million in the prior year, and a non-GAAP Adjusted EBITDA of $73.9 million. CODI declared a cash distribution of $0.36 per share, bringing cumulative distributions to over $20 per share since its IPO. The acquisition of BOA Technology, completed post-quarter-end for $454 million, strengthens CODI's portfolio in branded consumer businesses.

Compass Diversified (NYSE: CODI) has successfully acquired BOA Technology Inc. for $454 million, marking a significant expansion into the performance fit market. The acquisition was funded through existing cash and a $300 million draw from its revolving credit facility. CODI now holds 82% equity in BOA, with the remaining 18% retained by BOA’s management and shareholders. This acquisition is expected to enhance CODI's growth strategy, leveraging BOA's innovative Fit System used in various industries worldwide.

Compass Diversified (NYSE: CODI) will release its third quarter financial results on October 28, 2020, after market close. The results will be discussed in a conference call at 5:00 p.m. ET, featuring executives including CEO Elias J. Sabo and CFO Ryan J. Faulkingham. Interested investors can join at (833) 900-1532 (domestic) or (236) 712-2273 (international) with passcode 5056636. A replay will be available until November 4, 2020. CODI manages a diverse portfolio of middle-market businesses, aiming for long-term cash flow and shareholder value.

On October 2, 2020, Compass Diversified (NYSE: CODI) announced the retirement of Don Hinshaw as CEO of its subsidiary, The Sterno Group, effective December 31, 2020. Craig Carnes, previously the President of Sterno’s Foodservice Group, will take over as CEO on January 1, 2021. Hinshaw, who has led Sterno for 12 years, will remain on the Board of Directors. His leadership saw significant growth and acquisitions for Sterno. The company positions itself as a leader in portable food warming and lighting solutions, continuing to adapt to consumer needs under Carnes' leadership.