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Compass Diversified completes divestiture of Fox Factory

Published March 16, 2017

WESTPORT, Conn. (BRAIN) — Compass Diversified Holdings, which once owned Fox Factory and CamelBak, has sold off its last remaining shares of Fox. Compass sold CamelBak to Vista Outdoor in 2015

The company said it sold its remaining shares of Fox common stock in a secondary public offering for total net proceeds of approximately $136.1 million. Compass spun off Fox in an IPO in 2013 but retained a minority share in the suspension brand, which it has sold off in several subsequent secondary offerings.

Alan Offenberg, CEO of Compass Diversified Holdings, said, "This transaction represents the culmination of our successful investment in Fox and demonstrates the strength of our business model and ability to unlock significant value for shareholders. Including this divestiture, we have realized approximately $525 million in proceeds from Fox, while increasing total gains realized for shareholders to over $775 million, including Fox secondary sales and past opportunistic sales of subsidiaries. With our substantial liquidity, we remain in an excellent position to pursue compelling platform and add-on acquisitions, while providing stable cash distributions."

Compass continues to own a variety of consumer brands, including the tactical gear brand 5.11, baby carrier brand Ergobaby, the food warming brand Sterno Products, and a hemp food brand, Manitoba Harvest. 

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