- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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