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 (NYSE: CODI) reported Q2 2020 net sales of $333.6 million, down slightly from $336.1 million in Q2 2019. The company experienced a net loss of $7.4 million vs. a net income of $218.2 million in the prior year, primarily due to a one-time gain in 2019. Adjusted EBITDA was $49.5 million, down from $52.1 million. The firm generated $54.3 million in cash from operations, benefiting from a strategic capital raise of $290 million. CODI paid a cash distribution of $0.36 per common share, maintaining its commitment to shareholders amidst COVID-19 uncertainties.
Compass Diversified Holdings (CODI) plans to release its financial results for the second quarter ending June 30, 2020, on July 29, 2020, following the market close. A conference call to discuss these results is scheduled for the same day at 5:00 p.m. ET, featuring executives from the company.
CODI focuses on owning and managing a diverse portfolio of established middle market businesses, emphasizing long-term cash flow generation. The company maintains controlling interests in its subsidiaries, which span various sectors including apparel, manufacturing, and consumer products.
Compass Diversified Holdings (CODI) announced a quarterly cash distribution of $0.36 per share on common shares for the period ending June 30, 2020, payable on July 23, 2020. Additionally, quarterly distributions were declared for Series A, B, and C Preferred Shares, ranging from $0.453125 to $0.4921875 per share, payable on July 30, 2020. CEO Elias Sabo emphasized the company's commitment to shareholder value and adaptability to market conditions, supported by cash flows from its nine subsidiaries, which span various industries.
Sterno Products has rebranded as Sterno, unveiling a new logo and company identity. CEO Don Hinshaw emphasized the brand's century-long reputation for quality and innovation, extending beyond portable food warming products. The rebranding coincides with the company's strategic plans for growth, including its response to the COVID-19 pandemic by producing hand sanitizer and face masks at scale. This new identity aims to instill consumer confidence and support future product expansions in both foodservice and retail sectors.
Compass Diversified Holdings (NYSE: CODI) successfully raised $290 million, including $88 million from common equity and $202 million from senior unsecured notes. The funds will enhance CODI's liquidity, allowing it to repay a $200 million revolving credit facility and allocate $90 million for future acquisitions. With these transactions, CODI has about $1 billion in total liquidity to pursue growth opportunities. Moody's affirmed CODI's Ba3 rating, signaling confidence in its financial health. CEO Elias Sabo highlighted the capital raise as a strategic advantage in navigating economic uncertainties.
Compass Diversified Holdings (NYSE: CODI) announced it has priced $200 million in 8.000% senior unsecured notes due 2026, with an issue price of 101.000%. The proceeds will be used to repay existing credit facilities and to enhance liquidity for future acquisitions. The offering is expected to close on May 7, 2020. The notes are offered only to qualified institutional buyers as they are not registered under the Securities Act. CODI manages a portfolio of established North American middle-market businesses, focusing on long-term cash flow generation.
Compass Diversified Holdings (NYSE: CODI) announced its plan to launch a private add-on offering of $200 million in 8.000% Senior Notes due 2026. This follows a prior issuance of $400 million in similar notes. The proceeds will primarily be used to repay existing credit facilities and enhance liquidity for future acquisitions. The additional notes will not be guaranteed by subsidiaries and are intended for qualified institutional buyers under specific regulations. The interest will begin accruing from May 1, 2020, with the first payment due in November 2020.
Compass Diversified Holdings (NYSE: CODI) announced a public offering of 5,000,000 common shares, priced at $17.60 each, aiming for gross proceeds of $88 million. The net proceeds will be used to reduce the outstanding balance on the Company’s revolving credit facility. Additionally, underwriters have a 30-day option to buy up to 750,000 more shares. The closing is expected on May 7, 2020, subject to standard conditions. Major investment banks managing the offering include Morgan Stanley and BofA Securities.
Compass Diversified Holdings (NYSE: CODI) announced a public offering of 5,000,000 common shares, plus an option for underwriters to acquire an additional 750,000 shares within 30 days. The net proceeds will primarily be used to repay a portion of the Company's revolving credit facility. The offering is managed by Morgan Stanley, BofA Securities, UBS Investment Bank, and RBC Capital Markets, and is conducted under an effective shelf registration statement with the SEC.
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What is The Honey Pot Company?
