Compass Diversified Announces $100 Million Share Repurchase Program
16 Octobre 2024 - 10:05PM
Compass Diversified (NYSE: CODI) (“CODI” or the “Company”), an
owner of leading middle market businesses, today announced that its
Board of Directors (the “Board”) authorized the repurchase of up to
$100 million of CODI’s issued and outstanding common shares.
Elias Sabo, CEO of Compass Diversified,
commented: “This new $100 million repurchase program reflects our
confidence in CODI’s long-term strategy and our continued growth
prospects.”
Under the authorization, CODI may purchase
common shares through December 31, 2024, subject to extension by
the Board, utilizing one or more open market transactions,
transactions structured through investment banking institutions, in
privately-negotiated transactions or otherwise, by direct purchases
of common shares or a combination of the foregoing in compliance
with the applicable rules and regulations of the Securities and
Exchange Commission (the “SEC”).
The timing of the purchases and the amount of
common shares repurchased is subject to CODI’s discretion and will
depend on market and business conditions, applicable legal and
credit requirements and other corporate considerations.
About Compass Diversified
Since its IPO in 2006, CODI has consistently
executed its strategy of owning and managing a diverse set of
highly defensible, middle-market businesses across the industrial,
branded consumer and healthcare sectors. The Company leverages its
permanent capital base, long-term disciplined approach, and
actionable expertise to maintain controlling ownership interests in
each of its subsidiaries, maximizing its ability to impact
long-term cash flow generation and value creation. The Company
provides both debt and equity capital for its subsidiaries,
contributing to their financial and operating flexibility. CODI
utilizes the cash flows generated by its subsidiaries to invest in
the long-term growth of the Company and has consistently generated
strong returns through its culture of transparency, alignment and
accountability. For more information, please visit
compassdiversified.com.
Forward Looking Statements
This press release may contain certain
forward-looking statements, including statements with regard to the
future performance of CODI and its subsidiaries. Words such as
"believes," "expects," and "future" or similar expressions, are
intended to identify forward-looking statements. These
forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. Certain
factors could cause actual results to differ materially from those
projected in these forward-looking statements, and some of these
factors are enumerated in the risk factor discussion in the Form
10-K filed by CODI with the SEC for the year ended December 31,
2023 and in other filings with the SEC. Except as required by law,
CODI undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Investor Relations
Compass Diversifiedirinquiry@compassdiversified.com
Gateway GroupCody Slach949.574.3860CODI@gateway-grp.com
Media Relations
Compass Diversifiedmediainquiry@compassdiversified.com
The IGB GroupLeon Berman212.477.8438lberman@igbir.com
Compass Diversified (NYSE:CODI)
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