Compass Diversified Holdings (Codi) has launched a secondary offering of trust shares intended to raise up to $125 million to repay a portion of its credit facility. Codi is the parent company of Camelbak Products, Ergobaby and Liberty Safe. It is also a minority shareholder in Fox Factory, which is no longer consolidated since July 10. The company has already offered 6,000,000 trust shares, giving underwriters the option to purchase up to 900,000 more shares within a 30-day period. Codi made the announcement after reporting a drop in operating income of about $700,000 to $2.8 million for Camelbak in the third quarter ended Sept. 30 on 3.4 percent lower sales of $33.5 million. The group's operating profit declined by 89.1 percent to $9.7 million as total revenues went down by 23.5 percent to $203.1 million, but net earnings went up by 235 percent to $262.1 million.
Related articles
-
OpinionCorporate social responsibility - could this be a way to reduce staff fluctuation?
There has been a culture change towards employment in my lifetime: no longer are workers expecting jobs for life. The change has already happened but is sparking something greater with those affected. My graduating students realize they need work skills and know that a period of attachment with a brand ...
-
ArticleCourt lifts Swedish sales ban after Hövding’s bankruptcy - but there's a catch
It’s hard to understand what has been happening in Sweden for several months on Hövding’s back. The company, which had developed and sold a very popular airbag collar for cyclists, had to file for bankruptcy shortly before Christmas because the Swedish Consumer Protection Agency had banned the sale of the ...
-
News briefsSwiss Stromer and US bike fintech offer e-bike leasing in the US
Stromer, the Swiss e-bike technology pioneer, has partnered with Colorado-based The Sweet Spot, a bicycle fintech company, to offer long-term e-bike leasing and management in the US. This new leasing option makes Stromer’s premium Class 3 commuter e-bikes accessible to even more riders, supporting the brand’s mission to shape the ...