, /PRNewswire/ -- (: CODI) ('CODI' or the 'Company'), an owner of leading middle market businesses, announced today that its subsidiary, ('Sterno Products'), has acquired ('') for a purchase price of (including a earn-out payable over two years, but excluding working capital and certain other adjustments).

is the industry leader in flameless candles and outdoor lighting products for the retail segment. has been at the forefront of LED lighting product development, and continues to lead the industry with the Candle Impressions and Paradise brands. Sterno Products' acquisition of strengthens its current position in the foodservice lighting segment by providing ambience solutions for every situation, and expands ability to grow in and internationally. For the trailing twelve months ended , reported net revenue of approximately and EBITDA of approximately . CODI funded the purchase price through available cash on its balance sheet.

Commenting on the transaction, , CEO of CODI, said, 'Since acquiring Sterno Products a little over a year ago, the company has continued to build upon its leadership position and the strength of the iconic '' brand. We are pleased to make this accretive add-on acquisition of as it is consistent with Sterno Products' recent name change and its focus on expanding the product line into complementary categories and channels. Going forward, we will continue to pursue opportunities to grow our subsidiaries by making attractive add-on acquisitions as well as platform acquisitions that create long-term shareholder value.'

'The addition of the team to the Sterno Products team is an exciting event for us as we have complimentary product lines, common beliefs in high quality products and services, and a passion to innovate,' said , President and CEO of Sterno Products. 'Together, these two companies will provide a broad portfolio of industry leading products for the foodservice and retail markets.'

About
 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 manufacture of quick-turn, small-run and production rigid printed circuit boards (Advanced Circuits);
  • The design and manufacture of medical therapeutic support surfaces and other wound treatment devices (, also doing business and known as Tridien Medical);
  • The manufacture of engineered magnetic solutions for a wide range of specialty applications and end-markets (Arnold Magnetic Technologies);
  • Environmental services for a variety of contaminated materials including soils, dredged material, hazardous waste and drill cuttings (Clean Earth);
  • The design and marketing of wearable baby carriers, strollers and related products (Ergobaby);
  • The design and manufacture of premium home and gun safes (Liberty Safe);
  • The manufacture and marketing of branded, hemp-based food products (Manitoba Harvest); and
  • The manufacture and marketing of portable food warming fuels and creative ambience solutions for the hospitality and consumer industries (Sterno Products).

In addition, we own approximately 41% of the common stock of ('', Nasdaq: FOXF), a former subsidiary business that completed its initial public offering in . FOX designs and manufactures high-performance suspension products primarily for mountain bikes, side-by-side vehicles, on-road and off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.

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 for the year ended and other filings with the . 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.

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Compass Diversified Holdings issued this content on 25 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 January 2016 13:58:09 UTC

Original Document: http://codi.client.shareholder.com/releasedetail.cfm?ReleaseID=951495