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pass Diversified LLC(CODI) - 2024 Q2 - Quarterly Results
2024-07-31 20:20
Net Sales Performance - Net sales increased 11% to $542.6 million in Q2 2024, with pro forma net sales up 6%[1][3] - Branded Consumer net sales rose 11% on a pro forma basis to $373.5 million, while Industrial net sales declined 4% to $169.1 million[1][4] - Net sales for the six months ended June 30, 2024, were $1.066885 billion, compared to $970.822 million in the same period in 2023, an increase of 9.9%[22] - Pro Forma Net Sales for the six months ended June 30, 2023, were $1.03 billion, reflecting a $56.89 million contribution from The Honey Pot Co. acquisition[30] - Total Branded Consumer Net Sales for the six months ended June 30, 2023, were $675.45 million, with Lugano contributing $124.84 million and 5.11 contributing $250.48 million[31] - Total Niche Industrial Net Sales for the six months ended June 30, 2023, were $352.26 million, with Altor Solutions contributing $122.40 million and Sterno contributing $149.63 million[31] Adjusted EBITDA and Earnings - Adjusted EBITDA increased 27% to $105.4 million, driven by strong performance at BOA and Lugano, and the addition of The Honey Pot Co.[5] - Adjusted Earnings grew 36% to $39.8 million compared to $29.2 million in the prior year[5] - CODI expects full-year 2024 Subsidiary Adjusted EBITDA between $480 million and $520 million, with Branded Consumer vertical revised upward to $365 million-$395 million and Industrial vertical revised downward to $115 million-$125 million[9] - Full-year 2024 Adjusted EBITDA guidance is maintained at $390 million-$430 million, including management fees and corporate expenses[10] - Adjusted EBITDA for the six months ended June 30, 2024, was $200.268 million, compared to $157.060 million in the same period in 2023, an increase of 27.5%[24] - Consolidated Adjusted EBITDA for Q2 2024 was $105.42 million, compared to $82.94 million in Q2 2023, reflecting a 27.1% increase[25][26] - Adjusted EBITDA for the six months ended June 30, 2024, was $200.27 million, compared to $150.22 million in EBITDA, showing a 33.3% increase after adjustments[27] - Consolidated Adjusted EBITDA for the six months ended June 30, 2023, was $157.06 million, with significant contributions from Lugano ($42.36 million) and BOA ($28.73 million)[28] - Total Branded Consumer Adjusted EBITDA for the six months ended June 30, 2023, was $133.66 million, with Lugano contributing $42.36 million and 5.11 contributing $32.13 million[29] Financial Position and Cash Flow - As of June 30, 2024, CODI had $68.4 million in cash and cash equivalents, with net borrowing availability of $543.6 million under its revolving credit facility[6] - Cash and cash equivalents decreased from $450.477 million in December 2023 to $68.370 million in June 2024, a decline of 84.8%[19] - Accounts receivable increased from $318.241 million in December 2023 to $358.530 million in June 2024, a growth of 12.7%[19] - Inventories increased from $740.387 million in December 2023 to $843.634 million in June 2024, a growth of 13.9%[19] - Long-term debt increased from $1.661879 billion in December 2023 to $1.712084 billion in June 2024, a growth of 3.0%[20] - Total stockholders' equity decreased from $1.519381 billion in December 2023 to $1.468752 billion in June 2024, a decline of 3.3%[20] - Net cash used in operating activities for the six months ended June 30, 2023, was $48.38 million, while net cash used in investing activities was $336.07 million[33] - Cash and cash equivalents at the end of the period for the six months ended June 30, 2023, were $67.35 million, down from $450.48 million at the beginning of the period[33] - Changes in operating assets and liabilities for the six months ended June 30, 2023, resulted in a net outflow of $92.11 million[34] - Distributions paid to common shares for the six months ended June 30, 2023, totaled $36.04 million, while distributions paid to preferred shares were $12.09 million[34] - Purchases of property and equipment for the six months ended June 30, 2023, amounted to $28.60 million[34] Profitability and Income - Gross profit for the six months ended June 30, 2024, was $500.941 million, compared to $421.705 million in the same period in 2023, an increase of 18.8%[22] - Operating income for the six months ended June 30, 2024, was $99.919 million, compared to $76.670 million in the same period in 2023, an increase of 30.3%[22] - Net income (loss) attributable to Holdings for the six months ended June 30, 2024, was $(21.177) million, compared to $119.003 million in the same period in 2023[22] - Velocity Outdoor reported a significant loss of $(39.23) million in Q2 2024, compared to $(3.48) million in Q2 2023, indicating a 1027.3% increase in losses[25][26] - Lugano's income from continuing operations increased to $14.78 million in Q2 2024 from $6.92 million in Q2 2023, a 113.6% growth[25][26] - Corporate income from continuing operations improved to $(7.19) million in Q2 2024 from $(12.95) million in Q2 2023, a 44.5% reduction in losses[25][26] Expenses and Taxes - Depreciation and amortization expenses for Q2 2024 totaled $40.15 million, up from $37.11 million in Q2 2023, an 8.2% increase[25][26] - Interest expense, net, for Q2 2024 was $26.56 million, slightly lower than $26.61 million in Q2 2023, a 0.2% decrease[25][26] - Provision for income taxes in Q2 2024 was $21.52 million, compared to $4.32 million in Q2 2023, a 398.1% increase[25][26] - Noncontrolling shareholder compensation in Q2 2024 was $3.93 million, up from $3.21 million in Q2 2023, a 22.4% increase[25][26] - Integration services fee in Q2 2024 was $875,000, compared to $1.19 million in Q2 2023, a 26.5% decrease[25][26] Divestitures and Acquisitions - The company divested Crosman Corporation, resulting in a $24.6 million loss, contributing to a net loss of $(13.7) million[1][4] - The company acquired The Honey Pot Co. in January 2024, contributing to strong sales growth and Adjusted EBITDA performance[3][5] Distributions and Shareholder Payments - CODI paid a Q2 2024 cash distribution of $0.25 per share on common shares and declared quarterly distributions on Series A, B, and C Preferred Shares[7][8]
pass Diversified LLC(CODI) - 2024 Q2 - Quarterly Report
2024-07-31 20:15
[PART I. FINANCIAL INFORMATION](index=5&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)](index=5&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS%20%28UNAUDITED%29) Presents unaudited condensed consolidated financial statements for Compass Diversified Holdings as of June 30, 2024, with notes [Condensed Consolidated Financial Statements](index=5&type=section&id=Condensed%20Consolidated%20Financial%20Statements) Condensed consolidated financial statements show increased assets, a net loss for H1 2024, and cash used in operations Condensed Consolidated Balance Sheet Highlights (in thousands) | Metric | June 30, 2024 (Unaudited) | December 31, 2023 | | :--- | :--- | :--- | | **Total Assets** | **$3,858,194** | **$3,816,981** | | Cash and cash equivalents | $68,370 | $450,477 | | Goodwill | $1,003,685 | $901,428 | | **Total Liabilities** | **$2,389,442** | **$2,297,600** | | Long-term debt | $1,712,084 | $1,661,879 | | **Total Stockholders' Equity** | **$1,468,752** | **$1,519,381** | Condensed Consolidated Statement of Operations Highlights (in thousands) | Metric | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | :--- | :--- | | **Net Revenues** | **$542,595** | **$486,889** | **$1,066,885** | **$970,822** | | Gross Profit | $259,114 | $216,641 | $500,941 | $421,705 | | Operating Income | $61,343 | $42,113 | $99,919 | $76,670 | | **Net Income (Loss)** | **($13,723)** | **$17,123** | **($7,942)** | **$126,724** | | Net Income (Loss) Attributable to Holdings | ($19,529) | $13,606 | ($21,177) | $119,003 | Condensed Consolidated Statement of Cash Flows Highlights (in thousands) | Metric | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | **Cash from Operating Activities** | **($48,383)** | **$37,239** | | **Cash from Investing Activities** | **($336,073)** | **$117,829** | | Acquisitions, net of cash acquired | ($379,524) | $0 | | Proceeds from sale of businesses | $64,828 | $105,123 | | **Cash from Financing Activities** | **$3,366** | **($149,619)** | | **Net (Decrease) Increase in Cash** | **($382,107)** | **$6,083** | [Notes to Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail significant corporate actions, including acquisitions, dispositions, segment performance, goodwill impairment, and debt - On January 31, 2024, the company acquired The Honey Pot Co. (THP) for a total preliminary purchase price of approximately **$376.8 million**, funded with cash on hand. The acquisition added a feminine care brand to the company's branded consumer portfolio[31](index=31&type=chunk)[32](index=32&type=chunk)[33](index=33&type=chunk) - On April 30, 2024, Velocity Outdoor sold its Crosman airgun division for an enterprise value of approximately **$63 million**, resulting in a recorded loss of **$24.6 million** for the quarter ended June 30, 2024[47](index=47&type=chunk) - The company performed its annual goodwill impairment test as of March 31, 2024, which resulted in an impairment charge of **$8.2 million** for the Velocity reporting unit. This followed a **$31.6 million** impairment for Velocity and a **$57.8 million** impairment for PrimaLoft in 2023[77](index=77&type=chunk)[81](index=81&type=chunk) Total Debt Outstanding (in thousands) | Debt Instrument | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | 2029 Senior Notes (5.25%) | $1,000,000 | $1,000,000 | | 2032 Senior Notes (5.00%) | $300,000 | $300,000 | | 2022 Term Loan | $380,000 | $385,000 | | 2022 Revolving Credit Facility | $54,000 | $0 | | Less: Unamortized debt issuance costs | ($11,916) | ($13,121) | | **Total Debt** | **$1,722,084** | **$1,671,879** | - The company declared and paid quarterly cash distributions of **$0.25 per common share** for each quarter in 2023 and the first two quarters of 2024[123](index=123&type=chunk) [ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](index=41&type=section&id=ITEM%202.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management discusses Q2 2024 revenue growth, gross margin improvement, and liquidity, highlighting impacts from acquisitions, divestitures, and impairments [Overview and Business Outlook](index=43&type=section&id=Overview%20and%20Business%20Outlook) The company operates ten businesses across branded consumer and industrial sectors, with a new healthcare focus, outlining 2024 growth and acquisition strategies - The company operates ten businesses categorized into Branded Consumer and Industrial groups, and recently announced a new strategic focus on the healthcare vertical[153](index=153&type=chunk)[154](index=154&type=chunk) - Recent significant events include the acquisition of The Honey Pot Co. on January 31, 2024, for an enterprise value of **$380 million**, and the sale of Velocity Outdoor's Crosman division on April 30, 2024, for approximately **$63 million**[172](index=172&type=chunk)[173](index=173&type=chunk) - The business outlook for 2024 prioritizes sales growth through new products and distribution, driving free cash flow, managing pricing amidst inflation, gaining market share, and pursuing strategic acquisitions[171](index=171&type=chunk) [Results of Operations - Consolidated](index=47&type=section&id=Results%20of%20Operations%20-%20Consolidated) Consolidated net revenues increased **11.4%** in Q2 2024 to **$542.6 million**, with improved gross margin, but a net loss due to divestiture losses and impairment charges Consolidated Results of Operations (in thousands) | Metric | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Change (%) | | :--- | :--- | :--- | :--- | | Net Revenues | $542,595 | $486,889 | 11.4% | | Gross Profit | $259,114 | $216,641 | 19.6% | | Operating Income | $61,343 | $42,113 | 45.7% | | Net (Loss) from Continuing Ops | ($13,723) | $10,051 | NM | - The increase in Q2 2024 gross profit margin to **47.8%** from **44.5%** in Q2 2023 was driven by a sales mix shift towards higher-margin businesses, particularly Lugano[181](index=181&type=chunk) - A loss of **$24.6 million** was recorded in Q2 2024 from the sale of Velocity Outdoor's Crosman division[187](index=187&type=chunk) - For the first six months of 2024, the company recorded an **$8.2 million** goodwill impairment expense related to the Velocity reporting unit[197](index=197&type=chunk) [Results of Operations - Business Segments](index=51&type=section&id=Results%20of%20Operations%20-%20Business%20Segments) Q2 2024 saw strong growth in Branded Consumer segments like Lugano and BOA, boosted by The Honey Pot Co., offsetting declines in Velocity Outdoor and some Industrial businesses Q2 2024 vs Q2 2023 Net Sales Change by Segment | Segment | Q2 2024 Net Sales (M) | Q2 2023 Net Sales (M) | YoY Change (%) | | :--- | :--- | :--- | :--- | | **Branded Consumer** | | | | | 5.11 | $123.2 | $126.0 | (2.2)% | | BOA | $54.2 | $38.1 | 42.1% | | Ergobaby | $28.6 | $26.1 | 9.2% | | Lugano | $99.4 | $60.9 | 63.0% | | PrimaLoft | $25.3 | $22.2 | 14.0% | | The Honey Pot Co. | $24.2 | N/A | N/A | | Velocity Outdoor | $18.7 | $37.8 | (50.6)% | | **Industrial** | | | | | Altor Solutions | $52.2 | $60.9 | (14.2)% | | Arnold | $43.2 | $40.1 | 7.5% | | Sterno | $73.8 | $74.6 | (1.1)% | - Lugano's operating income nearly doubled to **$33.2 million** in Q2 2024 from **$17.1 million** in Q2 2023, driven by a **63.0%** sales surge and improved gross margins[228](index=228&type=chunk)[232](index=232&type=chunk) - BOA's operating income more than doubled to **$16.5 million** in Q2 2024 from **$8.1 million** in Q2 2023, fueled by a **42.1%** sales increase as end-market inventory levels improved[209](index=209&type=chunk)[210](index=210&type=chunk)[214](index=214&type=chunk) - Velocity Outdoor's net sales fell **50.6%** in Q2 2024, primarily due to the divestiture of its Crosman division. The segment recorded an operating loss of **$1.9 million**[261](index=261&type=chunk)[262](index=262&type=chunk)[266](index=266&type=chunk) [Liquidity and Capital Resources](index=64&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2024, liquidity is strong with **$68.4 million** cash and **$543.6 million** credit availability, despite a cash decrease due to acquisitions and working capital needs - As of June 30, 2024, the company had **$68.4 million** in cash and cash equivalents and **$543.6 million** available under its 2022 Revolving Credit Facility[304](index=304&type=chunk)[316](index=316&type=chunk) - Cash decreased by **$382.1 million** in H1 2024, largely because cash from the 2023 Marucci sale was used to acquire The Honey Pot Co. in January 2024[304](index=304&type=chunk) - Cash used in operating activities was **$48.4 million** in H1 2024, a significant shift from **$37.2 million** provided in H1 2023, mainly due to increased working capital usage, including a **$138.9 million** inventory build at Lugano[306](index=306&type=chunk)[307](index=307&type=chunk) Total Intercompany Debt from Subsidiaries (in thousands) | Subsidiary | Intercompany Loan Balance | | :--- | :--- | | Lugano | $524,927 | | BOA | $189,141 | | PrimaLoft | $153,400 | | 5.11 | $121,751 | | The Honey Pot Co. | $105,500 | | Sterno | $98,856 | | Ergobaby | $82,475 | | Velocity Outdoor | $69,899 | | Arnold | $68,947 | | Altor | $64,884 | | **Total** | **$1,479,780** | [Reconciliation of Non-GAAP Financial Measures](index=69&type=section&id=Reconciliation%20of%20Non-GAAP%20Financial%20Measures) This section reconciles non-GAAP measures, Adjusted EBITDA and Adjusted Earnings, to GAAP counterparts, providing management's view of ongoing performance - The company uses non-GAAP measures like Adjusted EBITDA and Adjusted Earnings to assess performance, believing they provide a better view of ongoing operations by excluding items like non-cash expenses, acquisition costs, and impairments[326](index=326&type=chunk)[329](index=329&type=chunk) Reconciliation to Adjusted EBITDA and Adjusted Earnings (in thousands) | Metric | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | Net Income (Loss) | ($7,942) | $126,724 | | Net (Loss) from Continuing Operations | ($11,287) | $11,663 | | **Adjusted Earnings** | **$74,145** | **$49,031** | | **Adjusted EBITDA** | **$200,268** | **$157,060** | [ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK](index=75&type=section&id=ITEM%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) No material changes to the company's market risk exposure have occurred since December 31, 2023 - There have been no material changes to the company's market risk since December 31, 2023[358](index=358&type=chunk) [ITEM 4. CONTROLS AND PROCEDURES](index=75&type=section&id=ITEM%204.%20CONTROLS%20AND%20PROCEDURES) Management concluded that disclosure controls and procedures were effective as of June 30, 2024, with no material changes to internal control over financial reporting - Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2024[359](index=359&type=chunk)[360](index=360&type=chunk) - No material changes to internal control over financial reporting were identified during the most recent fiscal quarter[360](index=360&type=chunk) [PART II. OTHER INFORMATION](index=77&type=section&id=PART%20II.%20OTHER%20INFORMATION) [ITEM 1. LEGAL PROCEEDINGS](index=77&type=section&id=ITEM%201.%20LEGAL%20PROCEEDINGS) No material changes to legal proceedings have occurred since the last Annual Report on Form 10-K - There have been no material changes to legal proceedings since the last Annual Report on Form 10-K[362](index=362&type=chunk) [ITEM 1A. RISK FACTORS](index=77&type=section&id=ITEM%201A.%20RISK%20FACTORS) No material changes to the company's risk factors have occurred since the 2023 Annual Report on Form 10-K - There have been no material changes to the risk factors previously disclosed in the company's 2023 Annual Report on Form 10-K[363](index=363&type=chunk) [ITEM 6. EXHIBITS](index=78&type=section&id=ITEM%206.%20EXHIBITS) This section lists exhibits filed with the Form 10-Q, including corporate governance documents and required CEO/CFO certifications - The report includes various exhibits, such as amendments to the Trust Agreement and Operating Agreement, share designations for preferred stock, and CEO/CFO certifications[365](index=365&type=chunk)
Compass Diversified Announces Second Quarter 2024 Earnings and Conference Call Information
Newsfilter· 2024-07-17 20:15
Group 1 - CODI has consistently executed its strategy of owning and managing a diverse set of middle-market businesses across industrial, branded consumer, and healthcare sectors since its IPO in 2006 [1] - The company leverages its permanent capital base and long-term disciplined approach to maintain controlling ownership interests in its subsidiaries, maximizing long-term cash flow generation and value creation [1] - CODI provides both debt and equity capital for its subsidiaries, contributing to their financial and operational flexibility [1] Group 2 - CODI plans to release its financial results for the second quarter ended June 30, 2024, on July 31, 2024, after market close [2] - A conference call to discuss the results is scheduled for July 31, 2024, at 5:00 p.m. ET, featuring key executives from the company [4]
pass Diversified LLC(CODI) - 2024 Q1 - Earnings Call Transcript
2024-05-02 02:14
Financial Data and Key Metrics Changes - Consolidated revenue for Q1 2024 was $524.3 million, an increase of 8% compared to $483.9 million in the prior year period [58] - Adjusted EBITDA for Q1 2024 was $94.8 million, up 28% from $74.1 million in the prior year [80] - Net income for Q1 2024 was $5.8 million, a significant decrease from $109.6 million in the prior year, which included a $98 million gain from the sale of Advanced Circuits [33][58] Business Line Data and Key Metrics Changes - Branded consumer vertical saw pro forma revenues increase by 11% and pro forma adjusted EBITDA increase by 22% compared to Q1 2023 [7] - Industrial vertical revenues decreased by 10% and adjusted EBITDA decreased by 3% versus Q1 2023 [30] - BOA grew revenues and adjusted EBITDA by 13% and 15%, respectively, in Q1 2024 [31] - PrimaLoft experienced continued revenue and adjusted EBITDA declines, but saw solid double-digit bookings growth [31][53] Market Data and Key Metrics Changes - The Honey Pot Company, acquired in Q1 2024, performed in line with expectations, with revenues approximately flat and adjusted EBITDA slightly declining [78] - The company reported strong consumer demand across its portfolio, particularly in the branded consumer segment, which is expected to continue [18][54] Company Strategy and Development Direction - The company is focused on international expansion, as evidenced by the opening of a new London salon, which is expected to drive growth [4][95] - The strategic repositioning aims to manage a diversified group of companies with a growing share of disruptive, high-growth businesses [5][27] - The company plans to continue identifying, acquiring, and managing innovative companies to enhance shareholder returns [37][62] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the positioning of its industrial businesses despite a slight decline in revenues and adjusted EBITDA [5] - The company raised its full-year adjusted earnings outlook due to strong Q1 performance and positive expectations for the remainder of the year [10][29] - Management noted that the macroeconomic environment remains challenging, but consumer demand in the branded vertical remains strong and resilient [18][54] Other Important Information - The company incurred $7.7 million in capital expenditures in Q1 2024, down from $14.9 million in the prior year, with expectations for total CapEx of $50 million to $60 million for the full year [12] - The company has approximately $64.7 million in cash and $552 million available on its revolver, with a total leverage ratio of 3.84 times [11][60] Q&A Session Summary Question: What is the company's appetite for acquisitions given current leverage levels? - Management indicated comfort with increasing leverage temporarily to fund acquisitions, citing strong operational performance and growth expectations [16][100] Question: Can you elaborate on the performance of the industrial segment? - Management noted that the revenue decline in the industrial segment was due to both price and quantity factors, with some operational efficiencies helping to maintain EBITDA margins [92] Question: What are the growth drivers for Lugano moving forward? - Management highlighted low market penetration, significant investments in inventory, and the opening of the London salon as key growth drivers for Lugano [102][104] Question: How is the company addressing inventory destocking challenges? - Management acknowledged the challenges but expressed confidence that the headwinds are dissipating and that the company is well-positioned for growth [46][140] Question: What is the outlook for The Honey Pot Company? - Management reported gains in shelf space with key retailers and expressed optimism about the growth potential in 2025 and 2026 [134][117]
pass Diversified LLC(CODI) - 2024 Q1 - Quarterly Results
2024-05-01 20:18
Exhibit 99.1 Westport, Conn., May 1, 2024 – Compass Diversified (NYSE: CODI) ("CODI" or the "Company"), an owner of leading middle market businesses, announced today its consolidated operating results for the three months ended March 31, 2024. First Quarter 2024 Financial Results • On April 30, 2024, CODI announced the divestiture of Crosman Corporation, the air gun division of its subsidiary, Velocity Outdoor. • On April 18, 2024, The Honey Pot Co., a subsidiary of CODI and a leading, better-for-you femini ...
pass Diversified LLC(CODI) - 2024 Q1 - Quarterly Report
2024-05-01 20:17
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMPASS DIVERSIFIED HOLDINGS (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) COMPASS GR ...
Compass Diversified Announces Sale of Crosman Air Gun Business
Newsfilter· 2024-04-30 21:00
WESTPORT, Conn., April 30, 2024 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE:CODI) ("CODI" or the "Company"), an owner of leading middle market businesses, is announcing the simultaneous entry into a definitive agreement (the "Agreement") and completion of its sale of Crosman Corporation ("Crosman"), the air gun division of its Velocity Outdoor, Inc. subsidiary, to Daisy Manufacturing Company ("Daisy"). Crosman is a leading designer, manufacturer and marketer of air guns, accessories and related consumable ...
Compass Diversified Announces First Quarter 2024 Earnings and Conference Call Information
Newsfilter· 2024-04-17 20:15
WESTPORT, Conn., April 17, 2024 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE:CODI) ("CODI" or the "Company"), an owner of leading middle market businesses, announced today that it plans to release financial results for the first quarter ended March 31, 2024, on Wednesday, May 1, 2024, after the close of market trading. The Company has scheduled a conference call to discuss the results on Wednesday, May 1, 2024, at 5:00 p.m. ET. In conjunction with reporting first quarter 2024 results, CODI will host a conf ...
Compass Diversified Declares First Quarter 2024 Distributions on Common and Series A, B and C Preferred Shares
Newsfilter· 2024-04-04 20:15
WESTPORT, Conn., April 04, 2024 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE:CODI) ("CODI" or the "Company"), an owner of leading middle market businesses, announced today that its Board of Directors (the "Board") has declared a quarterly cash distribution of $0.25 per share on the Company's common shares (the "Common Shares"). The distribution for the three months ended March 31, 2024, is payable on April 25, 2024, to all holders of record of Common Shares as of April 18, 2024. The Board also declared a q ...
Compass Diversified Announces Appointment of Joshua Gaynor as President of Lugano Diamonds
Newsfilter· 2024-03-05 13:00
WESTPORT, Conn., March 05, 2024 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE:CODI), an owner of leading middle market businesses, proudly announces the appointment of Joshua Gaynor as the President of its subsidiary, Lugano Diamonds & Jewelry Inc., effective March 4th, 2024. As President, Mr. Gaynor will work closely with Lugano Diamonds' CEO and Co-Founder, Moti Ferder, and the executive team, helping to lead the day-to-day business operations and growth strategies with a particular focus on sales, market ...