Compass Diversified Holdings Announces Promotion of Pat Maciariello to Chief Operating Officer
April 01 2019 - 4:30PM
Compass Diversified Holdings (NYSE: CODI) (“CODI” or the
“Company”), an owner of leading middle market businesses, announced
today that Pat Maciariello has been promoted to Chief Operating
Officer of the Company's Manager, Compass Group Management LLC
(“CGM”), effective March 31, 2019. In this role, Pat will manage
all of Compass Diversified Holdings’ transaction opportunities and
have responsibility for financial and strategic oversight of all of
its subsidiaries.
“Having significantly grown our family of niche
leading businesses through platform and add-on acquisitions, we are
pleased to appoint Pat to this newly created position of Chief
Operating Officer, reflecting his important contributions to our
success,” said Elias Sabo, CEO of Compass Diversified Holdings.
“With our highly experienced and dedicated team, we are very well
positioned to continue to execute on the value creation strategy we
have developed for CODI’s shareholders. During his 14 year tenure,
Pat has established himself as a skilled strategic leader,
implementing our disciplined acquisition strategy and executing
initiatives to strengthen our subsidiaries. Notably, Pat has had a
significant impact serving as a board member of a number of our
subsidiaries, including Manitoba Harvest, which we recently
monetized and realized a sizeable gain on the sale.”
Mr. Maciariello stated, “I am excited to
continue to work closely with Elias, our extraordinary team at
Compass, and the world-class management teams at our subsidiary
companies in my new role as COO. Over its history, Compass has
created significant value by identifying attractive investment
opportunities and proactively and collaboratively working with
management teams to best capitalize on growth opportunities. I look
forward to continuing these efforts to deliver value to all CODI
stakeholders.”
Mr. Maciariello joined CGM in 2005, was
appointed partner in 2011, and currently serves as a member of the
company’s Investment Committee and head of CGM’s West Coast office.
Mr. Maciariello is currently a director and the Chairman of The
Sterno Group and Foam Fabricators. He is also a director and board
member of 5.11, Advanced Circuits and Ergobaby. Prior to joining
CODI, he was with Bain & Company and Deutsche Banc Alex Brown.
Mr. Maciariello is a graduate of the University of Notre Dame and
Columbia Business School.
About Compass Diversified Holdings (“CODI”)
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 nine majority-owned subsidiaries are engaged
in the following lines of business:
- The design and marketing of purpose-built tactical apparel and
gear serving a wide range of global customers
(5.11);
- The manufacture of quick-turn, small-run and production rigid
printed circuit boards (Advanced Circuits);
- 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 custom molded protective foam
solutions and OE components (Foam
Fabricators);
- The design and manufacture of premium home and gun safes
(Liberty Safe);
- The manufacture and marketing of portable food warming fuels
for the hospitality and consumer markets, flameless candles and
house and garden lighting for the home decor market, and wickless
candle products used for home decor and fragrance systems
(The Sterno Group); and
- The design, manufacture and marketing of airguns, archery
products, optics and related accessories (Velocity
Outdoor).
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 SEC for the year ended December 31, 2018 and other
filings with the SEC. Except as required by law, CODI undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Compass Diversified HoldingsRyan J. FaulkinghamChief Financial
Officer203.221.1703ryan@compassequity.com |
Investor Relations and Media Contact:The IGB Group
Leon Berman 212.477.8438 lberman@igbir.com |
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