Key Developments: Compass Diversified Holdings (CODI.N)
17.23USD
19 Jun 2013
$0.02 (+0.12%)
$17.21
$17.15
$17.23
$17.15
2,077
26,121
$17.99
$12.34
Latest Key Developments (Source: Significant Developments)
Compass Diversified Holdings Declares First Quarter 2013 Distribution of $0.36 Per Share
Compass Diversified Holdings announced that its Board of Directors has declared a quarterly cash distribution of $0.36 per share. The distribution for the three months ended March 31, 2013 is payable on April 30, 2013 to all holders of record as of April 23, 2013. Full Article
Compass Diversified Holdings Declares Fourth Quarter 2012 Distribution Of $0.36 Per Share
Compass Diversified Holdings announced that Board of Directors has declared a quarterly cash distribution of $0.36 per share. The distribution for the three months ended December 31, 2012 is payable on January 31, 2013 to all holders of record as of January 25, 2013. Full Article
Compass Diversified Holdings Issues Statement On CEO Position-DJ
Dow Jones reported that Compass Diversified Holdings announced that Mr. Alan Offenberg, who has served as interim Chief Executive Officer (CEO) since February 17, 2011, has been elected by the Company's Board as CEO, and will remain on the Company's Board of Directors. Mr. I. Joseph Massoud, who has been on a leave of absence from his duties as Chief Executive Officer and a director of the Company since February 17, 2011, resigned from his position as Chief Executive Officer and a Director of the Company. Full Article
Compass Diversified Holdings Declares Third Quarter 2012 Distribution of $0.36 Per Share
Compass Diversified Holdings announced that it has declared a quarterly cash distribution of $0.36 per share. The distribution for the three months ended September 30, 2012 is payable on October 31, 2012 to all holders of record as of October 24, 2012. Full Article
Compass Diversified Holdings Announces Sale of HALO Holding Corporation
Compass Diversified Holdings announced that on May 1, 2012, it simultaneously entered into a definitive agreement to sell and consummated the sale of its majority owned subsidiary, HALO Holding Corporation (HALO), to Candlelight Investment Holdings, Inc., for a total enterprise value of $76.5 million. The transaction is subject to customary escrow and working capital provisions. After these adjustments, as well as for an allocation to HALO's non-controlling shareholders and the payment of all of the transaction expenses, the Company received approximately $66.4 million of total proceeds from the sale at closing. This amount was in respect of its debt and equity interests in HALO, which was acquired by CODI on February 28, 2007, and the payment of accrued interest and fees. The proceeds were used to repay outstanding debt under the Company's revolving credit facility. The Company anticipates that its portion of the proceeds from the sale will approximate its book carrying amount for HALO and as a result no significant gain or loss for this transaction will be recorded for the quarter ended June 30, 2012. Full Article
Compass Diversified Holdings Declares First Quarter 2012 Distribution of $0.36 Per Share
Compass Diversified Holdings announced that its Board of Directors has declared a quarterly cash distribution of $0.36 per share. The distribution for the three months ended March 31, 2012 is payable on April 30, 2012 to all holders of record as of April 24, 2012. Full Article
Compass Diversified Holdings Expands Term Loan Facility to $255 Million and Lowers Interest Rate by 1.25%
Compass Diversified Holdings announced that on April 2, 2012 it exercised an option under the Company's credit agreement, dated as of October 27, 2011, to borrow an incremental term loan in the amount of $30 million. The incremental term loan, arranged by TD Securities and issued at 99% of par value, increases the Company's aggregate outstanding borrowings under its term loan facility to approximately $255 million. The increased term loan facility will require quarterly payments of approximately $0.64 million with a final payment of the outstanding principal balance due in October 2017. CODI also announced that, concurrent with the incremental term loan borrowing, it has amended the pricing terms of its term loan facility. Under the terms of the amendment, amounts borrowed bear interest at LIBOR plus a margin of 5.00%, as compared to the previous margin of 6.00%. In addition, the LIBOR floor was reduced to 1.25% from 1.50%. All other terms of the credit agreement remain unchanged. In connection with the amended facility, the Company paid an amendment fee of approximately $2.25 million, equal to 1.00% of the outstanding portion of the term loan before the $30 million increase. CODI will utilize the net proceeds from the incremental term loan to reduce borrowings under its $290 million revolving credit facility. Full Article
Compass Diversified Holdings Acquires Arnold Magnetic Technologies Holdings Corporation
Compass Diversified Holdings announced that on March 5, 2012, it entered into an agreement to acquire and consummated the acquisition of Arnold Magnetic Technologies Holdings Corporation (Arnold). The purchase price for Arnold of $130.5 million was based on a total enterprise value of $124.2 million and included $6.3 million of cash and working capital adjustments. Arnold generated approximately $17.9 million of adjusted EBITDA for fiscal 2011. Acquisition related costs were approximately $4.2 million. CODI funded the acquisition through available cash on its balance sheet and a draw of $25.0 million on its revolving credit facility. Full Article
Compass Diversified Holdings Declares Fourth Quarter 2011 Distribution Of $0.36 Per Share
Compass Diversified Holdings announced that its Board of Directors has declared a quarterly cash distribution of $0.36 per share. The distribution for the three months ended December 31, 2011, is payable on January 30, 2012 to all holders of record as of January 23, 2012. Full Article
Compass Diversified Holdings' The ERGObaby Carrier, Inc. Acquires Orbit Baby, Inc.
Compass Diversified Holdings announced that its subsidiary, The ERGObaby Carrier, Inc. ("ERGObaby"), has acquired Orbit Baby, Inc. ("Orbit Baby") for a purchase price of $17.5 million . Full Article
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