Compass Diversified Receives $75.2 Million Equity Investment
2023年12月21日 - 10:00PM
Compass Diversified (NYSE: CODI) (“CODI” or the “Company”), an
owner of leading middle market businesses, has completed a private
placement of approximately 3.6 million of its common shares to a
mutual fund managed by Allspring Global Investments, LLC
(“Allspring”) for $21.18 per share, or an aggregate sale price of
approximately $75.2 million. The use of proceeds from the sale will
be for general corporate purposes.
“We are thrilled to receive this substantial
investment from Allspring,” said Elias Sabo, CEO of Compass
Diversified. “This patient and long-term institutional capital
aligns with our long-term strategy and will allow us to get the
jump on potential acquisition opportunities in 2024 while many of
our competitors are still struggling to access capital.”
Sabo added, “As the acquisition market
conditions show signs of improvement, this investment strengthens
our ability to grow our subsidiaries and act on new acquisition
opportunities that align with our strict standards. Our aim with
this capital remains unchanged: delivering strong returns to our
shareholders through the management and ownership of middle market
businesses – something we have consistently done in the past.”
The sale of common shares was made pursuant to a
Subscription Agreement (the “Subscription Agreement”), dated as of
December 15, 2023, by and among CODI and the mutual fund managed by
Allspring.
About Compass Diversified
Since its founding in 1998, and IPO in 2006,
CODI has consistently executed on its strategy of owning and
managing a diverse set of highly defensible, middle-market
businesses across the niche industrial, branded consumer and
healthcare sectors. The Company leverages its permanent capital
base, long-term disciplined approach, and actionable expertise to
maintain controlling ownership interests in each of its
subsidiaries, maximizing its ability to impact long-term cash flow
generation and value creation. The Company provides both debt and
equity capital for its subsidiaries, contributing to their
financial and operating flexibility. CODI utilizes the cash flows
generated by its subsidiaries to invest in the long-term growth of
the Company and has consistently generated strong returns through
its culture of transparency, alignment and accountability. For more
information, please visit compassdiversified.com.
Forward Looking Statements
This press release contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
with regard to the expectations related to the use of proceeds
received in connection with the sale of common shares to the mutual
fund managed by Allspring, CODI’s future performance and the future
of acquisition markets generally. Words such as “believes”,
“expects”, “anticipates”, “intends”, “projects”, “assuming”, and
“future” or similar expressions, are intended to identify
forward-looking statements. These forward-looking statements are
subject to the inherent uncertainties in predicting future results
and conditions. Certain factors could cause actual results to
differ materially from those projected in these forward-looking
statements and some of these factors are enumerated in the risk
factor discussion in the Form 10-K filed by CODI with the
Securities and Exchange Commission (the “SEC”) for the year ended
December 31, 2022 and other filings with the SEC. Except as
required by law, CODI undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
Investor Relations
irinquiry@compassdiversified.com
Gateway GroupCody Slach949.574.3860CODI@gateway-grp.com
Media Relations
Mediainquiry@compassdiversified.com
The IGB GroupLeon Berman212.477.8438lberman@igbir.com
Compass Diversified (NYSE:CODI)
過去 株価チャート
から 1 2025 まで 2 2025
Compass Diversified (NYSE:CODI)
過去 株価チャート
から 2 2024 まで 2 2025