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) has announced a pricing of $300 million in 5.000% senior unsecured notes due 2032, set at an issue price of 100%. The net proceeds from this private offering will be utilized to repay a portion of the existing balance under the company's revolving credit facility. The offering is expected to close on November 17, 2021, subject to customary conditions. These notes are not secured by any subsidiaries and will be offered only to qualified institutional buyers under Rule 144A and to non-U.S. Persons under Regulation S.
Compass Diversified (NYSE: CODI) announced plans to offer $300 million in senior unsecured notes due 2032. The proceeds will primarily be used to pay down part of the existing revolving credit facility. The notes will not be guaranteed by any subsidiaries and will be offered only to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. The offering is subject to market conditions and will not be registered under the Securities Act, thus adhering to specific exemptions.
5.11 ABR Corp., a subsidiary of Compass Diversified (NYSE: CODI), has filed for an initial public offering (IPO) with the SEC, seeking to list on Nasdaq under the ticker symbol 'VXI.' The share price and number of shares offered are yet to be determined. Morgan Stanley, Jefferies, and Baird will serve as lead book-running managers for the offering, with several firms acting as co-managers. The registration statement is currently not effective, meaning no sales can occur until it does. This announcement indicates 5.11's intentions to access public capital for future growth.
Compass Diversified (CODI) announced strong third-quarter results, reporting net sales of $488.2 million and net income of $90.2 million. The company attributes this success mainly to heightened demand for its consumer brands and strategic acquisitions, including Lugano Diamonds for $256 million. Adjusted EBITDA reached $90.0 million, up from $67.6 million year-over-year. CODI also raised its full-year guidance, now projecting 2021 Adjusted EBITDA between $380 million to $390 million. Significant distributions of $0.36 and $0.88 per share were made in October and September 2021, respectively.
Lugano Diamonds & Jewelry, a subsidiary of Compass Diversified (NYSE: CODI), announced the appointment of Frederic Cumenal, former CEO of Tiffany & Co., and David Arnold, Vice Chairman of Robb Report, to its Board of Directors. Both leaders bring significant luxury industry experience and will invest in Lugano, enhancing its growth strategy. Cumenal's expertise in high-end retail and Arnold's success in luxury media are expected to bolster Lugano's position in the luxury jewelry market. This leadership change reflects Lugano's commitment to growth and customer relationship-building.
Marucci Sports, a subsidiary of Compass Diversified (CODI), has acquired Lizard Skins, enhancing its leading position in diamond sports and expanding into new markets like hockey and cycling. Founded in 1993, Lizard Skins is recognized for its innovative grip products and protective equipment, serving elite athletes across multiple sports including Major League Baseball and the NHL. This acquisition is expected to strengthen Marucci's product offerings and leverage Lizard Skins' technology to boost market presence.
Compass Diversified (CODI) will release its third-quarter financial results for the period ending September 30, 2021, on October 28, 2021, after market close. The Company will host a conference call at 5:00 p.m. ET on the same day to discuss these results. Key executives, including CEO Elias J. Sabo and CFO Ryan J. Faulkingham, will present. Investors can join by calling the provided numbers or listening to a live webcast available on CODI's website. A replay of the call will be available until November 4, 2021.
Compass Diversified (CODI) announced a definitive agreement to sell its majority-owned subsidiary, Advanced Circuits, to Tempo Automation for $310 million, including $240 million in cash and $70 million in Tempo stock. The deal allows CODI to repay outstanding borrowings and supports future growth. Following the transaction, Tempo Automation will merge with ACE Convergence Acquisition Corp., becoming Tempo Automation Holdings, Inc.. The closing is expected in Q1 2022, subject to regulatory approvals.
Tempo Automation has announced a definitive merger agreement with ACE Convergence Acquisition Corp. (NASDAQ: ACEV), creating a new entity named Tempo Automation Holdings, Inc., expected to trade under the ticker symbol TMPO. The combined company is projected to have an equity value of approximately
Compass Diversified (CODI) has declared a quarterly cash distribution of $0.36 per common share, payable on October 22, 2021. This marks the first distribution following the company's transition to a corporate structure, enhancing its capital efficiency and shareholder value.
Additionally, distributions were announced for preferred shares: $0.453125 for Series A, $0.4921875 for Series B, and $0.4921875 for Series C, all payable on November 1, 2021. The company's strategy aims to leverage its permanent capital to drive sustained cash flow.
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What is The Honey Pot Company?
