Compass Diversified Holdings reported sales at its four branded products companies – CamelBak, Fox, Liberty Safe and Ergobaby – grew 18.0 percent to $549.2 million in 2012. EBITDA for the group increased 24.3 percent to $104.9 million while EBIDTA margin rose 100 basis points to 19.3 percent.



CODI is essentially a publicly traded equity fund with holdings in technology, defense, engineering and consumer goods. It has acquired all four of its branded products companies since 2008, when it acquired Fox, a major California-based OEM and after-market supplier of high-performance suspension systems for mountain bikes, power sports and off-road vehicles.


Foxs net sales reached $235.9 million in 2012, up 28.4 percent from $197.7 million in 2011. OEM sales accounted for 81 percent of revenue. EBIDTA grew 16.9 percent to $36.0 million. Fox ended the year with total assets of $142.8 million compared to $130.0 million at Dec. 31, 2011. The company had approximately $43.0 million in firm backlog orders at Dec. 31, 2012, up 16.2 percent from a year earlier.


CamelBak, which CODI acquired in August, 2011, generated net sales of approximately $157.6 million, up 11.5 percent on pro forma basis. Pro forma EBIDTA rose 28.2 percent to $40.0 million. The company ended the year with 297 employees and $23.7 million in accounts receivable, up 38.3 percent. Sales backorders toted $29.3 million, flat with a year earlier.


CamelBak estimates it generates 80-85 percent of hands free hydration and 30 percent of the reusable bottle sales in the U.S. recreational market. In addition, it estimates it produces 85 percent of the hydration packs sold to U.S. war fighters on a post-issue basis. CamelBak sells its packs and as well as highly technical gloves to the military primarily through 400 military retail exchanges, where Marines, members of U.S. Special Forces and other war fighters often buy higher quality branded products to replace standard issue gear. In 2012, glove sales declined to 6 percent of sales from 14 percent in 2011, as the Pentagon continued to draw down troop levels in Iraq and Afghanistan.


CamelBak also bids for occassional DOD contracts and sells to U.S. government agencies and forieign militaries.


Liberty Safe, a maker of Liberty, Cabelas Remington and other gun safes, generated net sales of $91.6 million, up 11.4 percent from 2011. EBITDA reached $13.8 million, up 19.0 percent from 2011.

 

Ergobaby, which made 890,000 wearable baby carriers last year, emerged as the fastest growing business in the brand products portfolio. Started in a home by a mother after she had her first child in 2003, Ergobaby reported sales of $64.0 million in 2012, up 44.5 percent. EBITDA grew 27.3 percent to $16.1 million.