EX-99.2 4 w61865exv99w2.htm EX-99.2 exv99w2
Exhibit 99.2
(KCSA LOGO)
     
Compass Diversified Holdings
  Investor Relations Contact:
James J. Bottiglieri
  KCSA Strategic Communications
Chief Financial Officer
  Jeffrey Goldberger / Nick Rust
203.221.1703
  212.896.1249 / 212.896.1299
jim@compassequity.com
  jgoldberger@kcsa.com / nrust@kcsa.com
Compass Diversified Holdings Completes Sale of Silvue Technologies Group, Inc.
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Westport, CT, June 25, 2008 – Compass Diversified Holdings (Nasdaq GS: CODI), a leading acquirer and manager of middle market businesses, announced today that its wholly owned subsidiary, Compass Group Diversified Holdings LLC (the “Company”) consummated the sale of Silvue Technologies Group, Inc. (“Silvue”) to Mitsui Chemicals, Inc. pursuant to a definitive agreement signed on May 8, 2008.
Under the terms of the previously announced agreement, the Company sold Silvue for a total enterprise value of approximately $95 million, and received approximately $70.6 million of total proceeds from the sale, after payment to minority shareholders and payment of all transaction expenses, in respect of its debt and equity interests in Silvue. Silvue was acquired on May 16, 2006 for a total enterprise value of approximately $44 million, utilizing proceeds from CODI’s initial public offering. The Company anticipates recording a gain on the sale of Silvue of between $37.5 million and $40 million.
About Compass Diversified Holdings (“CODI”)
CODI was formed to acquire and manage a group of middle market businesses that are headquartered in North America. CODI provides public investors with an opportunity to participate in the ownership and growth of companies which have historically been owned by private equity firms, wealthy individuals or families. CODI’s disciplined approach to its target market provides opportunities to methodically purchase attractive businesses at values that are accretive to its shareholders. For sellers of businesses, CODI’s unique structure allows CODI to acquire businesses efficiently with no financing contingencies and, following acquisition, to provide its companies with substantial access to growth capital.
Upon acquisition, CODI works with the executive teams of its subsidiary companies to identify and capitalize on opportunities to grow those companies’ earnings and cash flows. These cash flows support distributions to CODI shareholders.

 

 

Subsidiary Businesses
AFM Holdings Corporation and its consolidated subsidiaries, referred to as American Furniture, is a low-cost manufacturer of upholstered stationary and motion furniture with the ability to ship any product in its line within 48 hours of receiving an order. American Furniture is based in Ecru, MS.
Anodyne Medical Device, Inc. and its consolidated subsidiaries, referred to as AMD, is a manufacturer of medical support surfaces and patient positioning devices, primarily used for the prevention and treatment of pressure wounds experienced by patients with limited or no mobility. AMD is based in Los Angeles, CA.
CBS Personnel Holdings, Inc. and its consolidated subsidiaries, referred to as CBS Personnel, is a provider of temporary staffing services in the United States. CBS Personnel is headquartered in Cincinnati, OH and operates 435 branch locations in 35 states.
Compass AC Holdings, Inc. and its consolidated subsidiaries, referred to as Advanced Circuits, is a manufacturer of low-volume quick-turn and prototype rigid printed circuit boards (“PCBs”). Advanced Circuits is based in Aurora, CO.
Fox Factory Holding Corp. and its consolidated subsidiaries, referred to as            Fox, is a designer, manufacturer and marketer of high-end suspension products for mountain bikes, all terrain vehicles, snowmobiles and other off-road vehicles. Fox is based in Watsonville, CA.
Halo Lee Wayne LLC and its consolidated subsidiaries, referred to as Halo, is a distributor of customized promotional products and serves more than 30,000 customers as a one-stop-shop resource for design, sourcing, management and fulfillment across all categories of its customers’ promotional products needs. Halo is based in Sterling, IL.
To find out more about Compass Diversified Holdings, please visit www.compassdiversifiedholdings.com.
This press release may contain certain forward-looking statements, including statements with regard to the future performance of the Company. Words such as “believes,” “expects,” “projects,” and “future” or similar expressions, are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and some of these factors are enumerated in the risk factor discussion in the Form 10-K filed by CODI with the Securities and Exchange Commission for the year ended December 31, 2007 and other filings with the Securities and Exchange Commission. CODI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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