Compass Diversified Stock Price, News & Analysis

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.

Compass Diversified (NYSE: CODI) plans to release its first-quarter financial results for the period ending March 31, 2022, on May 5, 2022, after market close. A conference call is scheduled for the same day at 5:00 p.m. ET to discuss these results. Participants can join by calling (833) 900-1532 domestically or (236) 712-2273 internationally, using Conference ID 5477725. The call will also be available as a live webcast on CODI's investor relations page, with an archive for those unable to attend live.

Compass Diversified (NYSE: CODI) has declared a quarterly cash distribution of $0.25 per share for its common shares, payable on April 28, 2022, for holders of record as of April 21, 2022. Additionally, $0.453125 per share will be distributed for its 7.250% Series A Preferred Shares and $0.4921875 for both Series B and C Preferred Shares, all payable on April 30, 2022, with payment dates on May 2, 2022. These distributions are expected to be treated as qualified dividends for U.S. federal income tax purposes.

Compass Diversified (CODI) reported record operating results for the fourth quarter and full year 2021, achieving net sales of $536.6 million and $1.842 billion respectively. Net income surged to $25.9 million for Q4 and $126.8 million for the full year, largely driven by acquisitions and strong performance in consumer and industrial sectors. Adjusted EBITDA reached $88.9 million for Q4 and $327.3 million for the year. Looking ahead, CODI projects 2022 Adjusted EBITDA of $400-$420 million.

Compass Diversified (NYSE: CODI) announced that shareholders can access their individual tax reporting information related to their ownership of CODI by February 21, 2022. The company will mail Investor Tax Reporting packages in early March for shareholders who held shares when CODI was taxable as a publicly traded partnership. CODI emphasizes the importance of checking statements from Broadridge or brokerage firms against trustee tax information. CODI, not subject to federal or state income tax, allows income, losses, deductions, or credits to flow directly to shareholders.

Compass Diversified (NYSE: CODI) announced plans to release its fourth quarter financial results for the period ending December 31, 2021, on February 24, 2022. The results will be discussed in a conference call at 5:00 p.m. ET the same day. Participating executives include CEO Elias J. Sabo and CFO Ryan J. Faulkingham. Investors can join the call via a live webcast on the company's investor relations website. A replay will be available until March 3, 2022. CODI specializes in owning and managing a diverse set of middle-market businesses across various sectors.

Altor Solutions, a subsidiary of Compass Diversified (CODI), has acquired Foam Concepts, a manufacturer of expanded polystyrene foam products. The acquisition enhances Altor's position in the protective packaging sector and expands its operational footprint to 19 U.S. facilities. Foam Concepts boosts Altor's capabilities, particularly in the cold chain market. CEO James Hughes expressed confidence in this strategic move to improve profitability and customer reach.