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 (NYSE: CODI) maintains an active portfolio of branded consumer and industrial businesses through its permanent capital model. This news hub provides investors and stakeholders with essential updates across CODI’s operations, including subsidiary performance, strategic acquisitions, and financial developments.
Track official press releases and market analysis covering CODI’s unique approach to market leadership in middle-market sectors. Our curated collection features earnings reports, partnership announcements, and operational updates from CODI’s corporate leadership and subsidiary management teams.
Key content includes acquisition disclosures for new portfolio additions, financial results from branded consumer segments like 5.11 Tactical and Ergobaby, plus industrial division updates from companies specializing in protective packaging and engineered materials. All content is verified through primary sources to ensure regulatory compliance and factual accuracy.
Bookmark this page for streamlined access to CODI’s latest business developments. Monitor how the company’s long-term ownership strategy translates into market performance across its diversified holdings.
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.
Compass Diversified (NYSE: CODI) announced a quarterly cash distribution of $0.36 per share on its common shares, marking the 39th consecutive quarter of such distributions. This payment is due on October 22, 2020, for shareholders recorded by October 15, 2020. Additionally, the company declared distributions of $0.453125 per Series A Preferred Share, and $0.4921875 per Series B and C Preferred Shares, all payable on October 30, 2020. CEO Elias Sabo highlighted the company's resilience amidst the COVID-19 pandemic and its successful business model.
On September 22, 2020, Compass Diversified (CODI) announced its acquisition of BOA Technology for $454 million. BOA is renowned for its award-winning BOA Fit System, utilized in various athletic and medical products. This acquisition aims to enhance CODI's portfolio of niche market brands and support BOA's continued innovation and growth. CODI's CEO stated that BOA's focus on excellence and innovation aligns well with their strategic vision. The deal is projected to close within 45 days, pending customary conditions, allowing BOA to maintain its leadership under CEO Shawn Neville following the acquisition.
Foam Fabricators, a leader in custom protective packaging, has announced a strategic investment in Rational Packaging, enhancing its capabilities in recyclable structural packaging. Following a partnership established in July 2020, this move aims to provide innovative and sustainable solutions to a diverse customer base. Foam Fabricators, backed by CODI, is transforming into a complete packaging solutions provider. Both companies are focused on expanding their market presence while prioritizing customer satisfaction and sustainability.
Sterno Home Inc., a leader in flameless candles, announced that the International Trade Commission (ITC) has launched an investigation against L&L Candle Company and its affiliates, alleging patent infringements on four patents. Sterno Home is pursuing an Exclusion Order to block L&L's importation of infringing products, including Wick to Flame and Push Flame candles. This marks Sterno Home's second legal action against L&L this year after a federal lawsuit filed in May. Sterno Home aims to protect its patent rights and seeks damages and an injunction against L&L.
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.
