Marucci Sports, LLC (“Marucci”), a subsidiary of Compass
Diversified (NYSE: CODI) and a leading designer and manufacturer of
baseball and fastpitch equipment and apparel, today announced it
has acquired Baum Enterprises LLC (“Baum Bat”), a designer and
manufacturer of composite wood bats. Terms of the transaction were
not disclosed.
The acquisition of Baum Bat will expand Marucci’s product line
and strengthen its position as a leader in diamond sports by
bolstering its technological capabilities while simultaneously
enhancing the company’s wood bat presence.
Founded in 1993 with a focus on technology and innovation, Baum
Bat is known for producing high-quality composite wood bats that
are both durable and high performing, earning the trust of amateur
and professional players alike. Baum Bat are the first wood
composite baseball bats approved for wood bat play from high school
to the lower levels of professional baseball. Baum Bat’s leadership
team, including its president and owner Ben Boulware, will continue
to lead the brand as part of Marucci.
“Our #1 priority has always been to make the highest performing
products that give players the best chance to succeed,” said Kurt
Ainsworth, Co-Founder and CEO of Marucci Sports. “Marucci has
always sought out companies developing best-in-class products to
join their portfolio of brands. Victus, Lizards Skins, and now Baum
Bat, have changed the game and we couldn’t be more excited to work
with their team. Baum has taken composite technology to the next
level with their composite bats, and we see their products as
highly complementary with significant runway to grow.”
Baum Bat President, Ben Boulware, commented: “In
joining the Marucci family, we are thrilled about our next stage of
growth and look forward to working with their exceptional team.
Baum Bat has delivered the world’s most durable composite wood bat
for nearly 30 years, and our commitment to the highest level of
excellence is what makes us the perfect partner. I’m excited to
continue the development of our high-quality products in tandem
with the Marucci team.”
Elias Sabo, CEO of CODI, added: “At CODI we take
pride that our permanent capital structure has once again enabled
us to continue investing in the future of our subsidiary, and we
are excited to partner with Marucci in its acquisition of Baum Bat.
Baum and Marucci are both established brands, and each have long
histories of helping athletes compete and win. Together, they will
be able to deliver a deeper range of bat products, and generate
long-term value for all stakeholders, including athletes and our
shareholders.”
About Marucci
Founded in 2009, Marucci Sports is a leading manufacturer and
distributor of baseball and fastpitch equipment under the Marucci
and Victus brands, headquartered in Baton Rouge, Louisiana.
Marucci’s product portfolio includes wood and metal bats, fielding
gloves, batting gloves, apparel, bags, accessories and protective
gear. Today, Marucci and Victus are the top two most-used bats
among Big League players. Through its acquisition of Lizard Skins,
Marucci expanded its presence into hockey, cycling and esports.
About Baum Bat
Founded in 1993, Baum Bat is the leading
manufacturer of branded wood composite baseball bats. The high
performance and durable equipment are approved for various
professional leagues, NCAA and BBCOR certified for college and high
school play, as well as Perfect Game, PBR, WWBA, CABA, AABC and 99%
of all tournaments and summer leagues.
About Compass Diversified
Since its founding in 1998, and IPO in 2006,
CODI has consistently executed on its strategy of owning and
managing a diverse set of highly defensible, middle-market
businesses across the niche industrial, branded consumer and
healthcare sectors. The Company leverages its permanent capital
base, long-term disciplined approach, and actionable expertise to
maintain controlling ownership interests in each of its
subsidiaries, maximizing its ability to impact long-term cash flow
generation and value creation. 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 has consistently generated strong returns through
its culture of transparency, alignment and accountability. For more
information, please visit compassdiversified.com.
Forward Looking Statements
This press release contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
with regard to the expectations related to the future performance
of PrimaLoft and CODI and the anticipated closing of the
transaction. Words such as "believes," "expects," “will,”
“anticipates,” “intends,” “continue,” "projects," “potential,”
“assuming,” 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, some of which are not currently
known to CODI. In addition to factors previously disclosed in
CODI’s reports filed with the SEC, the following factors, among
others, could cause actual results to differ materially from
forward-looking statements: ability to obtain necessary approvals
and meet other closing conditions to the acquisition on the
expected terms and schedule; delay in closing the acquisition;
difficulties and delays in integrating PrimaLoft’s business or
fully realizing cost savings and other benefits; business
disruption following the closing of the transaction; changes in the
economy, financial markets and political environment; risks
associated with possible disruption in CODI’s operations or the
economy generally due to terrorism, natural disasters, social,
civil and political unrest or the COVID-19 pandemic; future changes
in laws or regulations (including the interpretation of these laws
and regulations by regulatory authorities); general considerations
associated with the COVID-19 pandemic and its impact on the markets
in which we operate; and other considerations that may be disclosed
from time to time in CODI’s publicly disseminated documents and
filings. Further information regarding CODI and factors which could
affect the forward-looking statements contained herein can be found
in CODI’s annual reports on Form 10-K, quarterly reports on Form
10-Q and current reports on Form 8-K. Forward-looking statements
speak only as of the date they are made. 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.
Investor Relations
Compass Diversifiedirinquiry@compassdiversified.com
Gateway GroupCody Slach949.574.3860CODI@gatewayir.com
Media Relations
The IGB GroupLeon Berman212.477.8438lberman@igbir.com
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