Compass Diversified Stock Price, News & Analysis

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) has appointed Stephen Keller as its new Chief Financial Officer, effective August 31, 2024. Keller brings over 25 years of executive finance experience across multiple industries, replacing Ryan Faulkingham, who has served as CFO since July 2013.

Keller's most recent role was Interim CFO and VP of Investor Relations at Envista Holdings . He also held various positions at Avery Dennison , including VP of Strategy & Corporate Development. Keller holds a BS in Economics from the University of Iowa and an MBA from Northwestern University's Kellogg School of Management.

CODI's CEO, Elias Sabo, expressed confidence in Keller's ability to bolster the company's organizational foundation and drive strong financial results. Keller stated his excitement about joining CODI, highlighting the company's diverse mix of middle market businesses and long-term approach to value creation.

Jadex Inc. has announced the sale of Lifoam Industries, to Altor Solutions, a subsidiary of Compass Diversified (NYSE: CODI), for $137 million in cash. The post-tax proceeds will be used to reduce debt and invest in Jadex's remaining business. Lifoam, a leading manufacturer of temperature-controlled packaging products, has been experiencing growth, particularly in healthcare- and food-related cold chain shipping markets.

Lifoam's success has been driven by innovation, including the development of environmentally-friendly products like Bioffex® technology, a PLA-based bead foam that can be commercially composted in under four weeks. The sale positions Lifoam to continue its growth trajectory as part of Altor, a specialized protective and cold chain packaging solutions business.

Altor Solutions, a subsidiary of Compass Diversified (NYSE: CODI), has announced its agreement to acquire Lifoam Industries, for $137 million in cash. Lifoam, a leading manufacturer of temperature-controlled packaging products, will expand Altor's presence in the cold-chain packaging sector and diversify its customer base. The acquisition brings significant synergies, including seven manufacturing locations across the U.S. and advanced engineering capabilities.

This strategic move aligns with Altor's long-term growth strategy, enhancing its product offerings and geographic coverage. The deal is expected to close in September 2024, subject to customary conditions. Compass Diversified's CEO, Elias Sabo, emphasized the acquisition's potential to generate long-term value for CODI stakeholders through expanded capabilities and innovation in environmentally friendly measures.

Compass Diversified (NYSE: CODI) reported strong Q2 2024 results, with net sales up 11% to $542.6 million. Branded Consumer net sales increased 11% on a pro forma basis to $373.5 million, while Industrial net sales decreased 4% to $169.1 million. The company reported a loss from continuing operations of $13.7 million, primarily due to the $24.6 million loss from the divestiture of Crosman Adjusted EBITDA increased 27% to $105.4 million, driven by strong performance at BOA and Lugano, and the addition of The Honey Pot Co.

CODI maintained its 2024 outlook, expecting Subsidiary Adjusted EBITDA between $480 million and $520 million. The company revised its Branded Consumer vertical expectations upward by $10 million and Industrial vertical downward by $10 million. CODI continues to expect Adjusted EBITDA of $390 million to $430 million and Adjusted Earnings between $148 million and $163 million for the full year 2024.

Compass Diversified (NYSE: CODI), an owner of leading middle market businesses, has announced its plans to release financial results for the second quarter ended June 30, 2024, on Wednesday, July 31, 2024, after market close. The company will host a conference call to discuss the results on the same day at 5:00 p.m. ET.

The call will feature CEO Elias Sabo, CFO Ryan Faulkingham, and COO Pat Maciariello of Compass Group Management. Investors can access the live webcast on CODI's Investor Relations website, and dial-in details are available through a registration link. Participants are encouraged to dial in 15 minutes before the scheduled start time to avoid delays. A replay of the webcast will be available for a time on the company's website.

Compass Diversified (NYSE: CODI) announced a quarterly cash distribution for Q2 2024 on its common and preferred shares. Common shareholders will receive $0.25 per share, payable on July 25, 2024, to holders of record as of July 18, 2024.

Series A Preferred shareholders will receive $0.453125 per share, Series B Preferred shareholders will receive $0.4921875 per share, and Series C Preferred shareholders will also receive $0.4921875 per share. These distributions are payable on July 30, 2024, to holders of record as of July 15, 2024.

CASH distributions are generally expected to be qualified dividends for U.S. federal income tax purposes, with the final tax status reported in early 2025.

Compass Diversified reported strong Q1 2024 results with net sales up 8%, Branded Consumer net sales up 11%, and adjusted Earnings up 73%. The company is optimistic about the year ahead, raising its outlook and expects a solid performance from its subsidiaries.

Compass Diversified (NYSE: CODI) has announced the sale of Crosman , the air gun division of its Velocity Outdoor subsidiary, to Daisy Manufacturing Company. Crosman, a leading designer and manufacturer of air guns, accessories, and related consumables, has a rich history in the industry for over a century. The sale will help CODI pay down debt and support its overall corporate goals. The transaction reflects the company's strategic decision to streamline its portfolio and focus on core businesses.