Compass Diversified Holdings Expands Board of Directors with Appointment of Larry L. Enterline; Appoints D. Eugene Ewing as I...
29 July 2019 - 10:30PM
Compass Diversified Holdings (NYSE: CODI) (“CODI” or the
“Company”), an owner of leading middle market businesses, announced
today that Larry L. Enterline has been appointed to the Board of
Directors of Compass Group Diversified Holdings LLC (the “Board”),
effective July 24, 2019. The election of Mr. Enterline, who will
serve on the Board’s Audit Committee and Nominating and Corporate
Governance Committee, increases the size of the Board to eight
members.
CODI also announced the appointment of D. Eugene
Ewing as Independent Lead Director of the Board, effective July 25,
2019. Mr. Ewing has served as Director and Chair of the Audit
Committee of the Board since CODI’s initial public offering in
2006.
Commenting on the addition of Mr. Enterline to
the Board, Sean Day, Chairman of the Company's Board, stated, “We
worked extensively with Larry during CODI’s ownership of FOX and
are delighted to welcome him to our Board. Larry was a valued
partner, and his expertise in the branded consumer space, growing a
global company, with an emphasis on operational efficiency, in
particular, will make him a strong addition. We look forward to his
contributions and guidance as we continue to implement our
permanent capital model, providing stable and growing cash flows
and consistent distributions.”
Mr. Day continued, “Gene has provided
outstanding leadership and valuable insight as a member of our
Board, and we are pleased to appoint him Independent Lead Director,
as we further our commitment to strong corporate governance
practices.”
Mr. Enterline has over 30 years of public
company, leadership and operating experience. He joined FOX Factory
Holding Corp. (NASDAQ: FOXF) (“FOX”) in March 2011 as the company’s
Chief Executive Officer and served during the time FOX was a CODI
subsidiary. He was appointed to FOX’s board of directors in June
2013 and was appointed Executive Chairman of the FOX board in June
2019 upon his retirement as CEO. Prior to joining FOX, he was Chief
Executive Officer of Vulcan Holdings Inc., a private investment
holding and consulting services company he founded. Before founding
Vulcan Holdings, Mr. Enterline was Chief Executive Officer of
COMSYS IT Partners Inc., an IT staffing and solutions company. Mr.
Enterline earned a Bachelor of Science, electrical engineering
degree from Case Western Reserve University and a Master of
Business Administration degree from Cleveland State University.
“I’m thrilled to be joining the Board and to
partner once again with their talented team,” Mr. Enterline
commented. “I look forward to working closely with management and
the Board to create further shareholder value.”
About Compass Diversified Holdings
(“CODI”)CODI owns and manages a diverse family of
established North American middle market businesses. Each of its
current subsidiaries is a leader in its niche market.
CODI maintains controlling ownership interests
in each of its subsidiaries in order to maximize its ability to
impact long term cash flow generation and value. The Company
provides both debt and equity capital for its subsidiaries,
contributing to their financial and operating flexibility. CODI
utilizes the cash flows generated by its subsidiaries to invest in
the long-term growth of the Company and to make cash distributions
to its shareholders.
Our eight majority-owned subsidiaries are
engaged in the following lines of business:
- The design and marketing of
purpose-built tactical apparel and gear serving a wide range of
global customers (5.11);
- The manufacture of quick-turn,
small-run and production rigid printed circuit boards
(Advanced Circuits);
- The manufacture of engineered
magnetic solutions for a wide range of specialty applications and
end-markets (Arnold Magnetic Technologies);
- The design and marketing of
wearable baby carriers, strollers and related products
(Ergobaby);
- The design and manufacture of
custom molded protective foam solutions and OE components
(Foam Fabricators);
- The design and manufacture of
premium home and gun safes (Liberty Safe);
- The manufacture and marketing of
portable food warming fuels for the hospitality and consumer
markets, flameless candles and house and garden lighting for the
home decor market, and wickless candle products used for home decor
and fragrance systems (The Sterno Group); and
- The design, manufacture and
marketing of airguns, archery products, optics and related
accessories (Velocity Outdoor).
This press release may contain certain
forward-looking statements, including statements with regard to the
future performance of CODI. 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 SEC for the year ended December 31, 2018 and other
filings with the SEC. Except as required by law, CODI undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Compass
Diversified HoldingsRyan J. FaulkinghamChief Financial
Officer203.221.1703ryan@compassequity.com |
Investor Relations
and Media Contact:The IGB Group Leon Berman 212.477.8438
lberman@igbir.com |
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