Compass Diversified Acquires Synthetic Insulation Maker PrimaLoft For $530M

• Compass Diversified Holdings (NYSE: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 (NYSE: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.