Altor Solutions, Inc., a subsidiary of Compass Diversified (CODI) announced that it has acquired Plymouth Foam for an enterprise value of $56 million, excluding customary closing adjustments. Both firms make protective packaging solutions and componentry.
CODI’s business holdings also include 5.11, Boa Technology, Marucci Sports and Velocity Outdoor in the active lifestyle space. Other businesses include Advanced Circuits, Arnold Magnetic Technologies, Ergobaby, Foam Fabricators, and Sterno.
“This transaction builds on a period of growth and momentum that began with our rebranding to Altor Solutions earlier this year,” said James Hughes, CEO of Altor. “We believe that the acquisition of Plymouth, with its wide array of high-value, highly engineered products, further expands our business and capabilities. With access to Plymouth’s diversified client base, two well-placed manufacturing facilities, complementary expertise and talented team, we are confident we will significantly expand Altor and Plymouth’s combined reach throughout the country. We are pleased to welcome Plymouth’s impressive team and look forward to capitalizing on the strengths of both companies as we deliver the best solutions for our growing customer base.”
“Altor has capitalized on the strong market for packaging and componentry, and we believe there is tremendous potential for growth through this combination with Plymouth,” said Elias Sabo, CEO of CODI. “We are excited to leverage CODI’s permanent capital structure to make this strategic investment and help build our subsidiary’s business. With CODI’s support, Altor is able to facilitate this transaction at the right time and capitalize on evolving consumer demands to position its strong platform for growth, enhancing long-term value for CODI shareholders.”
