WESTPORT, Conn., June 25 /PRNewswire-FirstCall/ -- 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.
