Compass Diversified Holdings (CODI) said its Board of Directors authorized the repurchase of up to $50 million of its issued and outstanding common shares.
“CODI continues to produce strong financial and operational results, and the implementation of our first share repurchase program reflects our confidence in the future of the company,” said Elias Sabo, CEO, Compass Diversified. “CODI’s long-term ownership of leading middle market businesses using our permanent capital base has been a proven driver of shareholder returns, and we believe this new repurchase program is another tool to opportunistically maximize this value.”
Under the authorization, CODI may purchase common shares through December 31, 2023.
CODI’s business holdings include 5.11, Boa Technology, Marucci Sports, Primaloft, and Velocity Outdoor in the active lifestyle space. Other businesses include Advanced Circuits, Arnold Magnetic Technologies, Ergobaby, Foam Fabricators, Lugano Diamonds, and Sterno.
