Westport’s Compass Diversified Holdings begins share repurchasing

Compass Diversified Holdings (NYSE:CODI), a Westport-based owner of leading middle market businesses, has launched the repurchase of up to $50 million of the company”™s issued and outstanding common shares.

In a statement, the company said it may purchase common shares through Dec. 31. The timing of the purchases and the amount of common shares repurchased is subject to company”™s discretion and will be based on market and business conditions, applicable legal and credit requirements and other corporate considerations.

“CODI continues to produce strong financial and operational results, and the implementation of our first share repurchase program reflects our confidence in the future of the Company,” said Elias Sabo, CEO of Compass Diversified. “CODI”™s long-term ownership of leading middle market businesses using our permanent capital base has been a proven driver of shareholder returns, and we believe this new repurchase program is another tool to opportunistically maximize this value.”