Compass Diversified Holdings, which owns Camelbak and other brands, is proposing to float one of its subsidiaries, Fox Factory, on the stock exchange. Specializing in the development, production and sale of high-performance suspension systems for mountain bikes and many other types of vehicles, it had a pre-tax income of $22.4 million on sales of $235.9 million last year. Compass Diversified, which is itself traded publicly, bought Fox Factory. It has filed a registration statement with the U.S. Securities & Exchange Commission in view of the initial public offering, which would be handled by Robert W. Baird & Co., William Blair & Company and Piper Jaffray & Co. as joint book-running managers. The pricing of the offering has not yet been determined, but proceeds would be first used to extinguish an existing credit facility of $52.9 million provided to Fox Factory by its parent company.