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8-K - FORM 8-K - Compass Group Diversified Holdings LLC | w81928e8vk.htm |
Exhibit 99.1
Compass Diversified Holdings James J. Bottiglieri Chief Financial Officer 203.221.1703 jbottiglieri@compassdiversifiedholdings.com |
Investor Relations and Media Contacts: The IGB Group Leon Berman / Michael Cimini 212.477.8438 / 212.477.8261 lberman@igbir.com / mcimini@igbir.com |
Compass Diversified Holdings Increases First Quarter Distribution by 6% to $0.36 per Share
Represents Fourth Quarterly Distribution Increase since IPO in May 2006
Westport, Conn., March 10, 2011 Compass Diversified Holdings (NYSE: CODI) (CODI or the
Company), an owner of leading middle market businesses, announced today that its Board of
Directors declared an increase in its quarterly cash distribution to $0.36 per share. The
distribution for the three months ended March 31, 2011 is payable on April 12, 2011 to all holders
of record as of March 29, 2011.
Commenting on the increase, Alan Offenberg, interim Chief Executive Officer of Compass Diversified
Holdings, stated, Our distribution for the first quarter of 2011 represents an increase of
approximately 6% from the previous quarterly distribution of $0.34 per share and marks the fourth
increase we have declared since going public in May 2006. This latest increase reflects the
confidence we have in the ability of our expanded family of niche leading businesses to generate
stable cash flows, which we utilize to distribute to our owners and to invest in the long-term
growth of our Company on their behalf.
About Compass Diversified Holdings (CODI)
Compass Diversified Holdings (CODI) owns and manages a diverse family of established North
American middle market businesses. Each of its eight subsidiaries is a leader in their niche
market.
CODI maintains controlling ownership interests in each of its subsidiaries in order to maximize its
ability to impact long term cash flow generation and value. 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 to make cash distributions to its owners.
Our subsidiaries are engaged in the following lines of business:
| The manufacture of quick-turn, prototype and production rigid printed circuit boards (Advanced Circuits, www.advancedcircuits.com); | ||
| The design and manufacture of promotionally priced upholstered furniture (American Furniture Manufacturing, www.americanfurn.net); | ||
| The design and manufacture of medical therapeutic support surfaces and other wound treatment devices (Anodyne Medical Device, also doing business and known as Tridien Medical, www.anodynemedicaldevice.com); | ||
| The design and marketing of wearable baby carriers and related products (ERGObaby, www.ergobabycarriers.com); | ||
| The design, manufacture and marketing of premium suspension products for mountain bikes and powered off-road vehicles (Fox Racing Shox, www.foxracingshox.com); | ||
| The design, sourcing and fulfillment of logo based promotional products (Halo Lee Wayne, www.haloleewayne.com); | ||
| The design and manufacture of premium home and gun safes (Liberty Safe, www.libertysafe.com); and | ||
| The provision of temporary staffing services, operating approximately 300 locations in 29 states (Staffmark, www.staffmark.com). |
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, 2010 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.