Compass Diversified Holdings (CODI) announced Wednesday the promotions of Demetrios Dounis to partner and head of business development and Raj Dalal to principal, effective January 1.

“I am pleased to announce the well-deserved promotions of Demetrios and Raj and look forward to working with them in their new roles as the Company continues to deliver value to our shareholders and leverage its permanent capital structure to capitalize on the many opportunities ahead,” said Elias Sabo, CEO of CODI. “One of CODI’s greatest strengths is our team and these promotions reflect the depth of our talent and capabilities. On behalf of CODI’s senior leadership, I want to congratulate Demetrios and Raj on a job well done and express my excitement about our team’s ability to continue executing on our proven strategy to invest in and build businesses for the long term.”

Patrick Maciariello, COO of CODI added, “At CODI, we pride ourselves on building an exceptional team with differentiated capabilities and fostering a culture that enables our people to grow and succeed. Demetrios and Raj have made significant contributions to the development and success of CODI and we are delighted to recognize their performance, professionalism and dedication through these hard-earned promotions.”

Dounis joined the company in 2007 as a vice president. He was promoted to principal in 2011 and promoted to partner in 2015. In this newly created role as partner and head of business development, Dounis will work closely with both East and West Coast-based investment teams to coordinate business development activities across the company, including sourcing and evaluating platform transactions as well as working with management teams across the CODI portfolio to identify and complete add-on transactions.

Dounis was involved in the firm’s investments in CamelBak, Liberty Safe, Arnold Magnetic Technologies and Velocity Outdoor. He led the firm’s investment in and realized the exit of Clean Earth, Inc. Dounis currently serves as a director for Arnold Magnetic Technologies, Liberty Safe and Velocity Outdoor. Prior to joining CODI, Dounis worked at UBS and Deloitte. Dounis holds an MBA from the University of Chicago Graduate School of Business and a BS in Accounting from Rutgers University. He is also a CPA and a CFA Charterholder.

Dalal joined the company in 2012 as an associate. In his role as a principal, Dalal is responsible for executing new investment opportunities and managing existing portfolio companies. Dalal was involved in the firm’s investments in The Sterno Group, Manitoba Harvest and Foam Fabricators. He also works closely with Advanced Circuits, Ergobaby and 5.11 and several other realized CODI portfolio companies including FOX Factory. Prior to joining CODI, Dalal worked at Bank of America Merrill Lynch in the investment banking group. Dalal holds an MBA from Harvard Business School and a BA in business economics from the University of California, Los Angeles.