Compass Diversified to Acquire PrimaLoft for Enterprise Value of USD 530m.

MANews-(C)2009-2022

Connecticut, US-based middle market businesses owner Compass Diversified (NYSE: CODI) has entered into a definitive agreement to acquire the equity of New York-based insulation materials provider PrimaLoft, Inc.'s PrimaLoft Technologies Holdings, Inc., for an enterprise value of USD 530m, the company said.

The acquisition is expected to close in July, subject to customary closing conditions.

PrimaLoft was established in 1983 by Albany International Corp. (NYSE: AIN) in response to a US Army request to develop a synthetic insulation for soldiers that replicated the warmth and weight characteristics of traditional goose down, but also remained warm when wet.

In addition to maintaining high performance in wet conditions, the portfolio of PrimaLoft synthetic insulations offers products that can...

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