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Stock Market & Financial Investment News

News Breaks
August 7, 2014
16:58 EDTCODICompass Diversified acquires Clean Earth Holdings for $243M
Compass Diversified Holdings announced that on August 7 it entered into an agreement to acquire Clean Earth Holdings. The acquisition is expected to close by the end of August. Clean Earth provides environmental services for a variety of contaminated materials including soils, dredged material, hazardous waste and drill cuttings. For the year ended December 31, 2013, Clean Earth reported revenue of approximately $155.9M. The purchase price for Clean Earth will be based on a total enterprise value of $243M and will also include cash and working capital adjustments upon closing. Clean Earth generated approximately $32M of EBITDA for the last twelve months ending June 30, 2014. In addition, Clean Earth incurs between approximately $4M-$5M in annual maintenance capital expenditures. CEO Alan Offenberg said, "This attractive platform acquisition, which will increase the current number of businesses we own to eight upon closing, in addition to a 41% ownership interest in FOX, is expected to provide approximately 28c-32c per share of cash flow accretion on a full year basis."
News For CODI From The Last 14 Days
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April 13, 2015
10:00 EDTCODIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Barnes & Noble (BKS) initiated with a Buy at Craig-Hallum... Calgon Carbon (CCC) initiated with a Buy at Roth Capital... CenterPoint Energy (CNP) initiated with a Neutral at Goldman... Compass Diversified (CODI) initiated with an Outperform at William Blair... DTE Energy (DTE) initiated with a Neutral at Goldman... Goldman Sachs BDC (GSBD) initiated with an Outperform at Wells Fargo... Green Bancorp (GNBC) initiated with a Buy at SunTrust... Hilltop Holdings (HTH) initiated with a Buy at SunTrust... ITC Holdings (ITC) initiated with a Sell at Goldman... Independent Bank (IBTX) initiated with a Neutral at SunTrust... LegacyTexas Financial (LTXB) initiated with a Buy at SunTrust... MarkWest Energy (MWE) initiated with a Buy at Ladenburg... Medgenics (MDGN) initiated with an Outperform at JMP Securities... National Commerce (NCOM) initiated with an Outperform at Keefe Bruyette... OGE Energy (OGE) initiated with a Neutral at Goldman... Owens Corning (OC) initiated with a Hold at Evercore ISI... Southside Bancshares (SBSI) initiated with a Neutral at SunTrust... Zogenix (ZGNX) initiated with a Buy at Empire.
07:06 EDTCODICompass Diversified initiated with an Outperform at William Blair
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