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Compass closes sale of CamelBak

Published August 3, 2015

WESTPORT, Conn. (BRAIN) — Compass Diversified Holdings has completed the sale of CamelBak Products to Vista Outdoor Inc. for $412.5 million plus an additional $14.1 million of estimated cash and working capital adjustments. The two companies had entered into an agreement on the sale July 27.

After the allocation of the sales price to non-controlling equity holders and the payment of transaction expenses, Compass received approximately $367.8 million of total proceeds from the sale at closing. Compass acquired CamelBak in August 2011.

Compass said proceeds will be used to repay outstanding debt under the company's revolving credit facility, with the balance increasing cash on the company's balance sheet. Compass anticipates recording a gain on the sale of CamelBak ranging between $150 million and $170 million for the quarter ending Sept. 30.



Topics associated with this article: Mergers & Acquisitions

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