WESTPORT, Conn., Jan. 9 /PRNewswire-FirstCall/ -- Compass Diversified Holdings (Nasdaq: CODI) ("CODI" or the "Company"), a leading acquirer and manager of middle market businesses, announced today that its Board of Directors declared a quarterly cash distribution of $0.34 per share. The distribution for the three months ended December 31, 2008 is payable on January 30, 2009 to all holders of record as of January 23, 2009.
Joe Massoud, CEO of Compass Diversified Holdings, commented, "Including this fourth quarter distribution, we have declared cumulative distributions of $3.2752 per share since going public in 2006, while maintaining capital to reinvest in the business. Notably, over that period, we have increased our distribution level by approximately 30%. CODI's considerable financial strength, which includes over $85 million in cash, a $340 million revolving credit facility and no significant debt maturities until 2012, positions the Company to take advantage of future growth opportunities that meet our comprehensive and strict valuation and diligence criteria."
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.
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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.
A copy of this press release, and of past press releases, is available on the Compass Diversified Holdings website located at www.compassdiversifiedholdings.com.
Compass Diversified Holdings Investor Relations and Media Contacts: James J. Bottiglieri The IGB Group Chief Financial Officer Leon Berman / Tyler Wilson 203.221.1703 212.477.8438 / 646.673.9701 email@example.com firstname.lastname@example.org / email@example.com
SOURCE Compass Diversified Holdings