Compass Diversified Acquires Synthetic Insulation Maker PrimaLoft For $530M

Compass Diversified Holdings CODI has agreed to acquire the equity of PrimaLoft Technologies Holdings Inc, the parent company of PrimaLoft Inc, for an enterprise value of $530 million.
PrimaLoft provides branded, high-performance synthetic insulation and materials used primarily in consumer outerwear and accessories.
Based in Latham, New York, PrimaLoft was established in 1983 by Albany International Corp AIN.
Currently, PrimaLoft serves over 950 active brand partners.
The acquisition is expected to close in July. After completing the deal, PrimaLoft will continue to be led by its current leadership team.
CODI held $97.3 million in cash and equivalents as of March 31, 2022.
Price Action: CODI shares closed higher by 0.65% at $23.19 on Friday.