5.11 is a leading designer and marketer of purpose-built tactical apparel and gear serving a wide range of global customers including law enforcement, military special operations and firefighters, as well as outdoor enthusiasts. 5.11 is headquartered in
CODI's initial equity ownership in 5.11 will be approximately 97.5%, and 5.11's management team will also invest in the transaction alongside CODI. As part of the acquisition, CODI will acquire a substantial tax asset, the positive effect of which will be meaningful for CODI's annual cash flow.
"5.11 represents a strong addition to our family of leading middle market businesses, and we welcome the opportunity to serve law enforcement, first responders, military personnel as well as the tactical consumer market," said
Additional information on the acquisition will be available on the Company's current report on Form 8-K that will be filed with the
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 (
Anodyne Medical Device, 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 markets (
In addition, we own approximately 33% of the common stock of
About 5.11 Tactical
With offices around the globe, 5.11 works directly with end users to create purpose-built apparel and gear designed specifically to enhance the safety, accuracy, speed and performance of tactical professionals and enthusiasts worldwide. 5.11 products exceed rigorous standards, which have allowed the brand to establish a reputation for innovation and authenticity, and become the premier choice for those who must always be ready.
For more information on 5.11's best-selling tactical gear and accessories, visit www.511tactical.com. Connect with 5.11 Tactical on Facebook, Twitter @511Tactical and on Instagram @511Tactical. #511tactical
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
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