Westport financial consultancy Compass Group Diversified Holdings LLC and Compass Diversified Holdings – known collectively as CODI – have announced that Elias J. Sabo will become its CEO effective May 3. Sabo will also be appointed to the company’s board of directors at that time.
Sabo, a founding partner of the company’s manager, Compass Group Management LLC, will succeed Alan B. Offenberg, who is retiring from his positions as CEO and as a director of the company, following his 20-year tenure with the firm.
“As one of the founders and architects of our business model, Elias has been instrumental to CODI’s success in implementing its investment strategy, identifying and growing our leading subsidiaries, and building shareholder value,” Chairman Sean Day said. “Our investment and monetization of one of our past subsidiaries, Fox Factory Holding Corp., highlights this approach. Under Elias’ leadership, we acquired Fox, took it public and eventually realized gains from this investment of approximately $525 million.”
Sabo joined Compass Group Management in 1998 as one of its founding partners. For the past 20 years, he has been a member of its investment committee and, alongside Offenberg, has played a central role in directing CODI’s strategy. Sabo also serves as a director for a number of CODI’s current subsidiaries.
CODI owns and manages a diverse family of established North American middle-market businesses.