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 owns and manages a portfolio of middle-market businesses organized for reporting around branded consumer and industrial operations. Company news commonly covers consolidated operating results, subsidiary-level performance, portfolio acquisitions and divestitures, debt reduction, and cash distributions on its Series A, Series B, and Series C preferred shares.
Recurring updates also include developments at operating subsidiaries, such as commercial agreements involving Arnold Magnetic Technologies, and governance changes at the board level. CODI’s disclosures frame each subsidiary as an operating segment, with portfolio activity tied to its broader model of owning and managing branded consumer and industrial businesses.
Compass Diversified's subsidiary, 5.11 ABR Corp., has confidentially filed a draft registration statement on Form S-1 with the SEC for its planned initial public offering (IPO). The specific number of shares and pricing details remain undetermined, with the IPO expected to launch after SEC review and contingent upon market conditions. This announcement follows Rule 135 under the Securities Act of 1933, indicating it does not constitute an offer to sell or solicit purchases of securities.
On August 3, 2021, approximately 98% of voting shareholders of Compass Diversified (NYSE: CODI) approved an amendment to allow the Trust to elect to be treated as a corporation for U.S. federal income tax purposes, effective September 1, 2021. The Board's decision aims to simplify the tax structure, enhance shareholder value, and broaden investor access, potentially leading to an improved stock profile. A special cash distribution of $0.88 per share is also declared, payable on September 7, 2021. The election is expected to reduce capital costs and increase share liquidity.
Compass Diversified (NYSE: CODI) announced the sale of its majority-owned subsidiary, Liberty Safe Holding Corporation, to Monomoy Capital Partners for an enterprise value of $147.5 million. CODI expects to receive approximately $127 million in net proceeds after adjustments and anticipates a gain of $75 million to $85 million from the transaction. The funds will be used for general corporate purposes and a special distribution of $0.88 per share due to a tax reclassification. CEO Elias Sabo highlighted the successful growth and value creation during CODI's ownership of Liberty since 2010.
Compass Diversified (CODI) reported record operating results for Q2 2021, with net sales reaching $487.4 million, compared to $333.6 million in Q2 2020. Despite a net loss of $11.3 million, non-GAAP Adjusted EBITDA surged to $94.2 million. The company announced a cash distribution of $0.36 per share and raised its annual guidance for Adjusted EBITDA to $350 million to $370 million. Additionally, CODI plans to change its tax classification to a corporation, aiming to enhance shareholder value. A definitive agreement for the sale of Liberty Safe for $147.5 million was also disclosed.
Compass Diversified (NYSE: CODI) has agreed to sell its majority-owned subsidiary, Liberty Safe Holding Corporation, to Monomoy Capital Partners for approximately $147.5 million in cash. The sale is expected to yield a gain of $75 million to $85 million for CODI. Proceeds will support general corporate purposes and a special distribution of $0.88 per share linked to a tax reclassification. The deal is subject to customary approvals and is projected to close by the end of August 2021.
Compass Diversified (CODI) will release its financial results for Q2 2021 on July 29, after market close. A conference call to discuss these results will take place on the same day at 5:00 p.m. ET, featuring remarks from CEO Elias J. Sabo and CFO Ryan J. Faulkingham. Participants can join via phone or access a live webcast on the company's website. A replay will be available until August 5. CODI manages diverse North American middle-market businesses, leveraging a permanent capital base for growth.
Compass Diversified (NYSE: CODI) announced a quarterly cash distribution of $0.36 per share on its common shares, payable on July 22, 2021. The distribution is for the three months ending June 30, 2021, for holders on record as of July 15, 2021.
The company also declared cash distributions for its preferred shares: $0.453125 for Series A, $0.4921875 for both Series B and C, all payable on July 30, 2021, to holders on record as of July 15, 2021.
Compass Diversified (NYSE: CODI) announced that CEO Elias J. Sabo and CFO Ryan J. Faulkingham will present virtually at the William Blair 41st Annual Growth Stock Conference on June 2, 2021, at 11:40 a.m. ET. The presentation will be available through a live listen-only webcast on CODI's Investor Relations website. CODI specializes in managing a diverse portfolio of successful middle-market businesses across various sectors including apparel, packaging, and sports equipment.
Compass Diversified (CODI) reported strong first-quarter results for 2021, with net sales reaching $461.6 million and net income at $22.0 million. The Adjusted EBITDA increased to $88.0 million, driven by the success of recent acquisitions, including Marucci and BOA. The company generated $36.4 million in cash from operating activities and $46.2 million in cash flow available for distribution. CODI raised its full-year guidance, estimating consolidated Adjusted EBITDA between $325 million and $345 million. Additionally, a potential tax reclassification could impact distributions.
Compass Diversified (NYSE: CODI) plans to release its first-quarter financial results for 2021 on April 29, after market close. A conference call with executives, including CEO Elias J. Sabo and CFO Ryan J. Faulkingham, will follow at 5:00 p.m. ET. Participants can join via phone or a live webcast on the company's Investor Relations page. The call will also be available for replay until June 5. CODI is focused on long-term value creation through its diversified middle-market business model, leveraging its controlling interests in subsidiaries to enhance cash flow generation.