Compass Diversified (CODI) completed its previously announced offering of $300 million in aggregate principal amount of 5.000 percent senior unsecured notes due 2032 in a private offering. In conjunction with the completion of this offering, CODI has reduced its revolver borrowings by $297 million and now has access to approximately $583 million of its $600 million revolving credit facility.
“We are very pleased to have completed this offering, which is yet another demonstration of our commitment to deepening our competitive advantage through the pursuit of a lower weighted average cost of capital,” said Elias Sabo, CEO, Compass Diversified. “By extending our debt maturities and increasing our flexibility, we believe CODI remains poised to efficiently deploy capital in pursuit of new acquisitions while also investing in its subsidiaries to achieve both short and long-term growth goals. We are confident that our permanent capital advantage, supported by our strengthened balance sheet, positions us well to create considerable, long-term value for shareholders.”
CODI’s business holdings 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.
