Compass Diversified, owner of BOA, Primaloft, 5.11 and other active lifestyle brands, said its Board authorized the repurchase of up to $100 million of stock.
The program comes as CODI’s shares are slightly down for the year. Shares closed Wednesday at $21.71 after beginning the year at $22.45.
Elias Sabo, CEO of Compass Diversified, commented: “This new $100 million repurchase program reflects our confidence in CODI’s long-term strategy and our continued growth prospects.”
Under the authorization, CODI can purchase common shares through December 31, 2024, subject to extension by the Board, through investment banking institutions, in privately negotiated transactions, or by direct purchase of common shares.
The timing of the purchases and the amount of common shares repurchased are subject to CODI’s discretion and depend on market and business conditions, applicable legal and credit requirements, and other corporate considerations.
CODI’s consumer brands include 5.11, BOA, Ergobaby, Lugano Diamonds, PrimaLoft, The Honey Pot, and Velocity Outdoor. Its niche industrial brands include Altor, Arnold Magnetic Technologies, and Sterno.
Image courtesy 5.11 Tactical
