pass Diversified LLC(US:CODI)2021-07-30 12:15Company Overview - Compass Diversified Holdings (CODI) was founded in 1998 and had its IPO in 2006[9] - CODI has realized gains of over $1.1 billion since its IPO through 11 divestitures[10] - The company manages assets worth $2.5 billion across 10 current platforms[11, 12] - CODI has approximately $599 million in dry powder available for investment[14] - As of June 30, 2021, CODI has completed aggregate transactions worth over $6.4 billion, including 21 platforms and 28 add-ons[17] Financial Performance & Distributions - CODI's total return since IPO is 539.8%, compared to 274.8% for the Russell 2000[19] - Distributions paid since IPO amount to $21.12 per share, representing an approximate 5.7% yield as of July 27, 2021[19] - The company's full-year 2021 Adjusted EBITDA guidance is $350 million to $370 million, with an expected payout ratio of 55% to 65%[29] - June 30, 2021 TTM revenues and subsidiary pro forma adjusted EBITDA of $1.9 billion and $358 million, respectively[54] Strategic Initiatives - In March 2021, CODI issued $1.0 billion of 5.250% Senior Notes due 2029 and repaid $600 million of 8.000% Senior Notes due 2026[27] - CODI acquired Marucci Sports in April 2020 for $200 million and BOA Technology in October 2020 for $454 million[27, 28] - The company is exploring reclassification to C-Corp taxation to broaden its investor base[22]