Compass Diversified (CODI) entered into a definitive agreement to acquire BOA Technology Inc. (BOA), manufacturer of the BOA Fit System for $454 million. The purchase price excludes working capital and certain other adjustments upon closing.

BOA, founded in 2001 with its performance fit system for snowboarders to “dial-in” their boots as an alternative to a traditional lacing system, addresses the fit deficiencies found in traditional laces, buckles or straps. The brand has expanded across an array of segments, including cycling, golf, trail, hiking, mountaineering, running, court sports, workwear and medical.

“BOA’s disruptive, innovative and high-quality products are utilized by millions of consumers around the world, and we are pleased to partner with a true industry pioneer as the company builds upon its mission to advance human performance,” said Elias Sabo, CEO of Compass Diversified.

“Born out of a simple, yet innovative idea to dramatically improve the fit and performance of snowboard lacing systems, BOA has continued to push the boundaries of what is possible, developing new ways to improve performance across a range of products with the BOA Fit System,” said Shawn Neville, CEO of BOA. “This announcement is a testament to the incredible dedication of our global team and our great brand partners around the world, and we look forward to working closely with the talented team at CODI to build on our momentum.”

Following the close of the transaction, BOA will continue to be led by Neville and its current leadership team. BOA will maintain its headquarters in Denver, CO and operations in Austria, China, Japan, and South Korea

The acquisition is expected to close within the next 45 days, subject to customary closing conditions. Harris Williams & Co. served as exclusive financial advisor to BOA.

CODI’s other businesses include 5.11, Liberty Safe, Marucci Sports, Velocity Outdoor in the active lifestyle space, as well as Advanced Circuits, Arnold Magnetic Technologies, Ergobaby, Foam Fabricators and Sterno.

Photo courtesy BOA