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8-K - FORM 8-K - Compass Group Diversified Holdings LLC | w76871e8vk.htm |
Exhibit 99.1
Compass Diversified Holdings
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Investor Relations and Media Contacts: | |
James J. Bottiglieri
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The IGB Group | |
Chief Financial Officer
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Leon Berman / Mike Cimini | |
203.221.1703
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212.477.8438 / 212.477.8261 | |
jim@compassequity.com
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lberman@igbir.com / mcimini@igbir.com |
Compass Diversified Holdings Declares Fourth Quarter 2009
Distribution of $0.34 Per Share
Distribution of $0.34 Per Share
Westport, Conn., January 11, 2010 Compass Diversified Holdings (Nasdaq GS: CODI) (CODI or
the Company), a leading acquirer and manager of middle market businesses, announced today that
its Board of Directors has declared a quarterly cash distribution of $0.34 per share. The
distribution for the three months ended December 31, 2009 is payable on January 28, 2010 to all
holders of record as of January 22, 2010.
Joe Massoud, CEO of Compass Diversified Holdings, commented, We are pleased to declare our fourth
quarter distribution of $0.34 per share. We have now declared a distribution each quarter since our
IPO in May of 2006 and, including this quarter, will have cumulatively distributed $4.6352 per
share to our shareholders.
About Compass Diversified Holdings (CODI)
Compass Diversified Holdings (CODI) was formed to acquire and manage a group of middle market
businesses that are headquartered in North America. Its subsidiaries are a diverse group of
businesses with highly defensible market positions.
CODIs structure involves acquisition of controlling ownership interests in its subsidiaries in
order to maximize its ability to impact each subsidiarys performance. The Company provides both
debt and equity capital for its subsidiaries, contributing to their financial and operating
flexibility. CODIs model involves discipline in identifying and valuing businesses, proactive
engagement with the management teams of the companies it acquires and the monetization of its
subsidiaries when it believes that doing so will maximize shareholder value. The Company seeks to
provide an extraordinarily high level of transparency in financial reporting and governance
processes for the benefit of its shareholders. CODI currently has six subsidiaries operating in
distinct market niches. The cash flows generated by these businesses are utilized in pursuit of
CODIs dual objectives of investing in the long-term growth of the Company and making distributions
of cash to its shareholders.
Subsidiary Businesses
AFM Holdings Corporation and its consolidated subsidiaries, referred to as American Furniture,
is a low-cost manufacturer of upholstered stationary and motion furniture with the ability to
ship any product in its line within 48 hours of receiving an order. American Furniture is based
in Ecru, MS.
Anodyne Medical Device, Inc. and its consolidated subsidiaries, referred to as AMD, is a
manufacturer of medical support surfaces and patient positioning devices, which are primarily
used for the prevention and treatment of pressure wounds experienced by patients with limited to
no mobility. AMD is based in Coral Springs, FL.
CBS Personnel Holdings, Inc. and its consolidated subsidiaries, referred to as Staffmark, is a
provider of temporary staffing services in the United States. Staffmark is headquartered in
Cincinnati, OH and operates over 300 locations in 29 states.
Compass AC Holdings, Inc. and its consolidated subsidiaries, referred to as Advanced Circuits,
is a manufacturer of low-volume, quick-turn and prototype rigid printed circuit boards (PCBs).
Advanced Circuits is based in Aurora, CO.
Fox Factory Holding Corp. and its consolidated subsidiaries, referred to as Fox, is a designer,
manufacturer and marketer of high-end suspension products for mountain bikes, all-terrain
vehicles, snowmobiles and other off-road vehicles. Fox is based in Watsonville, CA.
Halo Lee Wayne LLC and its consolidated subsidiaries, referred to as Halo, is a distributor of
customized promotional products and serves more than 30,000 customers as a one-stop-shop
resource for design, sourcing, management and fulfillment across all categories of its
customers promotional products needs. Halo is based in Sterling, IL.
To find out more about Compass Diversified Holdings, please visit
www.compassdiversifiedholdings.com.
This press release may contain certain forward-looking statements, including statements with
regard to the future performance of the Company. Words such as believes, expects, projects,
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 Securities and Exchange Commission for
the year ended December 31, 2008 and other filings with the Securities and Exchange Commission.
CODI undertakes no obligation to publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
# # #
A copy of this press release, and of past press releases, is available on Compass Diversified
Holdings website located at www.compassdiversifiedholdings.com.