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 (CODI) has announced a quarterly cash distribution of $0.25 per share for common shares, payable on October 27, 2022. The record date for this payment is October 20, 2022. Additional distributions for preferred shares are also declared, with $0.453125 for Series A, $0.4921875 for Series B, and $0.4921875 for Series C, all payable on October 30, 2022. These distributions generally qualify as “qualified dividends” for U.S. federal income tax, ensuring beneficial tax treatment for shareholders.
Sterno has launched the Bring the Heat campaign, recognizing the efforts of foodservice employees adapting to industry challenges. Nominations are open until October 28, 2022, for employees demonstrating leadership and customer service excellence. The winner will receive a $5,000 honorarium and a commemorative plaque. The foodservice sector is projected to rebound, reaching $898 billion in sales and adding 400,000 jobs in 2023. Craig Carnes, CEO of Sterno, emphasizes the resilience of these unsung heroes during recovery.
On September 15, 2022, 5.11 Tactical, a subsidiary of Compass Diversified (CODI), announced the grand opening of its 100th retail store in Oxnard, California, scheduled for September 17, 2022. CEO Francisco J. Morales highlighted the milestone as a significant achievement in their retail strategy, which has expanded their customer engagement. Since partnering with CODI in 2016, 5.11 has experienced substantial revenue growth, achieving a 9% CAGR in revenue and a 23% CAGR in adjusted EBITDA from 2018 to 2021, aided by over $70 million in growth capital investment.
Compass Diversified (CODI) reported a 19% increase in net sales to $515.6 million in Q2 2022, marking its sixth consecutive quarter of record performance. Gross profit surged 38% to $50.3 million, and net income climbed to $31.0 million, a significant turnaround from a $11.3 million loss a year earlier. The company announced its acquisition of PrimaLoft and raised its full-year Adjusted EBITDA outlook to between $445 million and $470 million. CODI also declared a cash distribution of $0.25 per share, reflecting strong shareholder returns amidst macroeconomic challenges.
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.
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