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.
Compass Diversified (NYSE: CODI) announced the termination of the Merger Agreement with Tempo Automation, originally established on October 13, 2021, for the sale of its subsidiary, Advanced Circuits. This decision comes amid ongoing delays in a separate SPAC transaction that would have facilitated the merger. CEO Elias Sabo expressed confidence in Advanced Circuits' future and its performance under CODI's ownership, indicating potential value growth for shareholders.
Compass Diversified (CODI) will release its second-quarter financial results on August 3, 2022, after market close. A conference call to discuss the results is scheduled for 5:00 p.m. ET on the same day. Participants can join via phone or access a live webcast on CODI's investor relations website. The company has a history of managing a diverse portfolio of middle-market businesses, aiming for long-term growth through a disciplined approach. For those unable to attend live, a replay will be available until August 10, 2022.
Compass Diversified (NYSE: CODI) has completed the acquisition of PrimaLoft Technologies Holdings, Inc. for a purchase price of $530 million. The deal was funded through a $400 million term loan and an amendment to extend a $600 million credit revolver. CODI now holds approximately 91% equity in PrimaLoft, which specializes in high-performance insulation materials. This acquisition aims to leverage PrimaLoft's extensive brand partnerships and expertise for growth, capitalizing on significant market opportunities.
Compass Diversified Holdings (CODI) has appointed Larry L. Enterline as Chairman of the Board, effective July 2, 2022, succeeding C. Sean Day, who is retiring. Enterline has been a board member since 2019 and brings extensive leadership experience. Additionally, Teri R. Shaffer has joined the Board, also effective July 2, and will serve on the Audit Committee. Shaffer, with over 38 years in finance and accounting, previously held a significant role at Ernst & Young. Her expertise in cybersecurity and risk management is expected to enhance the Board's effectiveness, as noted by current leadership.
Compass Diversified (NYSE: CODI) announced the appointment of Terry Moody as CEO of Altor Solutions, effective July 11, 2022, succeeding James Hughes, who will transition to the board after his tenure. Moody brings over 20 years of executive experience in business development and operations from companies including Alpha Packaging. COO Zach Sawtelle expressed gratitude for Hughes' contributions and confidence in Moody's leadership for Altor's growth. Altor, founded in 1957, specializes in packaging, insulation, and componentry, operating 19 facilities across North America.
Compass Diversified (NYSE: CODI) announced a quarterly cash distribution of $0.25 per share on common shares, payable on July 28, 2022. Additionally, the company declared distributions for its Series A, B, and C Preferred Shares, with amounts of $0.453125 and $0.4921875 per share, payable between July 30 and August 1, 2022. These cash distributions are generally considered qualified dividends for U.S. federal income tax purposes, benefiting shareholders by potentially providing non-taxable returns of capital.
Compass Diversified (NYSE: CODI) has been added to the Russell 2000 and 3000 Indexes following the 2022 Russell indexes annual reconstitution, effective immediately. This inclusion is a significant milestone, enhancing the company's visibility in public markets. CEO Elias Sabo expressed optimism about the company's momentum, emphasizing their strategy that aims to generate strong operational and financial results. The Russell indexes capture the largest U.S. stocks and serve as benchmarks for $12 trillion in assets managed by institutional investors.
Victor Capital Partners has signed a definitive agreement to sell PrimaLoft, Inc. to Compass Diversified (NYSE: CODI). PrimaLoft, a leader in advanced insulation technology, serves over 950 global brand partners, offering sustainable materials that enhance performance while reducing environmental impact. This transaction, expected to close in early July 2022, follows a successful partnership that expanded PrimaLoft's reach and product offerings. Financial details were not disclosed, and employees will also benefit from the sale through the 'PrimaLoft Prosperity Plan.'
Compass Diversified (NYSE: CODI) announced its plan to acquire PrimaLoft Technologies Holdings, Inc. for an enterprise value of $530 million. PrimaLoft, founded in 1983, specializes in high-performance synthetic insulation and serves over 950 brands including Nike and Patagonia. The acquisition aims to enhance CODI's sustainability focus, as PrimaLoft has diverted 614 million plastic bottles from landfills. The deal is expected to close in July, pending customary conditions. CODI CEO Elias Sabo emphasized the potential for growth and sustainability alignment.
Compass Diversified (CODI) reported record first-quarter results for 2022, with net sales of $510.5 million, a 25% increase from the prior year. Branded consumer and niche industrial segments grew 27% and 21%, respectively. Net income rose 35% to $29.7 million, while Adjusted EBITDA increased 29% to $97.6 million. The company is raising its 2022 outlook, expecting Adjusted EBITDA between $410 million and $430 million. Key developments included the acquisition of Foam Concepts and the expansion of its board of directors.
