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July 16, 2014
16:22 EDTCODI, FOXFCompass Diversified announces partial divestiture of Fox Factory
Compass Diversified (CODI) announced today that Fox Factory Holding Corp. (FOXF) closed on a public offering of 5.75M shares held by certain FOX shareholders, including the company, at a price of $15.50 per share for total net proceeds to selling shareholders of approximately $84.4M. As a selling shareholder, the company sold a total of 4.47M shares of FOX common stock, including 633,955 shares sold in connection with underwriters' exercise of the over-allotment option in full, for total net proceeds of approximately $65.5M. Upon completion of the offering, CODI's ownership in FOX was lowered from approximately 53% to 41%, or 15,108,718 shares of FOX's common stock.
News For CODI;FOXF From The Last 14 Days
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July 27, 2015
09:07 EDTCODICompass Diversified announces sale of CamelBak Products to Vista Outdoor
Compass Diversified (CODI) announced that it has entered into a definitive agreement to sell its majority owned subsidiary, CamelBak Products to Vista Outdoor (VSTO). The sale price for CamelBak will be based on a total enterprise value of $412.5 million and will be subject to a customary working capital adjustment. The divestiture is expected to close within the next month, subject to customary closing conditions. After the allocation of the sales price to non-controlling equityholders and the payment of transaction expenses, CODI expects to receive between $355M and $375M of total proceeds from the sale at closing. This amount is in respect of the company's outstanding loans to CamelBak and its equity interests in CamelBak, which was acquired by CODI on August 24, 2011. The proceeds will be used to repay all outstanding debt under the Company's revolving credit facility, with the balance increasing cash on the Company's balance sheet. The Company anticipates recording a gain on the sale of CamelBak ranging between $140M and $160M during the quarter ended September 30, 2015.
July 16, 2015
10:00 EDTFOXFOn The Fly: Analyst Initiation Summary
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07:02 EDTFOXFFox Factory initiated with a Buy at CL King
Target $19.

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