Compass Diversified (CODI) has entered into a definitive agreement to acquire Boa Technology, which owns the Boa Fit System for shoe fastening. The purchase price of $454 million excludes working capital and other adjustments. The deal is expected to go through in the next 45 days or so, and Boa will continue to operate under its current chief executive, Shawn Neville, an industry veteran who previously worked for Wolverine Worldwide and Reebok, among other stations. Other top management should also remain in place. Launched in 2001 and originally designed as a substitute for laces on snowboard boots, Boa Fit’s rotational dial has come to replace traditional footwear fasteners in a variety of activities such as cycling, golfing, hiking, mountaineering, running, court sports, construction and medical work. The system has collected about 160 patents worldwide and is used by some 400 brands. Boa will maintain its headquarters and its Performance Fit Lab for research and development in Denver, Colorado, with additional operations in Austria, China, Japan and South Korea. It employs about 230 people in all. CODI maintains controlling stakes in nine middle-market companies in such industries as apparel, circuit boards, magnets, sporting goods, baby products and lighting. Notably, it controls 5.11 Tactical, Liberty Safe, Velocity Outdoor, Sterno and the recently acquired Marucci Sports. Velocity produces airguns, archery products, optics and related accessories. Sterno is a brand of canned jellied alcohol for camping stoves. Marucci specializes in baseball and softball equipment.