WESTPORT, Conn. (BRAIN) — Following a secondary stock offering this week, Compass Diversified Holdings, the former majority owner of Fox Factory, now owns just 14 percent of the company.
Fox Factory closed on the offering of 4,025,000 shares of Fox common stock held by certain stockholders including Compass. Compass generated about $72 million from the offering.
Alan Offenberg, CEO of Compass Diversified Holdings, said, "With today's transaction, we have further bolstered our financial liquidity for capitalizing on strategic add-on and platform acquisition opportunities, while increasing the total gains realized from investments in our subsidiaries to approximately $650 million. We continue to be a substantial shareholder in Fox and remain excited about the company's growth potential."
