Compass Diversified to Acquire Performance Fit Innovator BOA Technology

Further Expands CODI’s Best-In-Class Portfolio of Niche Market Leading Brands

CODI’s Resources and Deep Consumer Sector Expertise to Support Industry Pioneer’s Continued Product Innovation and Global Growth

WESTPORT, Conn. and DENVER, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE: CODI) ("CODI" or the "Company"), an owner of leading middle market businesses, today announced that it has entered into a definitive agreement to acquire BOA Technology Inc. (“BOA”), creators of the award-winning BOA Fit System, delivering superior fit and performance in the Outdoor, Athletic, Workwear and Medical Bracing markets worldwide, for a purchase price of $454 million (excluding working capital and certain other adjustments upon closing).

BOA was founded in 2001 with a revolutionary performance fit system that transformed how snowboarders “dialed in” their boots and offered a superior alternative to the traditional lace system. Nearly two decades later, the BOA Fit System has become the leading performance fit solution integrated into market-leading premium brand partner products across an array of segments, including snowboarding, cycling, golf, trail, hiking, mountaineering, running, court sports, workwear and medical.

Designed to address the deficiencies found in traditional closures, the BOA rotational dial-based fit system is superior to traditional laces, buckles or straps, delivering a fast, effortless, precision fit that improves performance for elite athletes and enthusiasts. With more than 400 highly collaborative global brand partners integrating BOA Fit Systems in performance footwear, headwear and medical bracing products, and a large and diverse intellectual property portfolio with nearly 160 patents issued globally, BOA has established itself as a clear market leader.

“BOA’s disruptive, innovative and high quality products are utilized by millions of consumers around the world, and we are pleased to partner with a true industry pioneer as the company builds upon its mission to advance human performance,” said Elias Sabo, CEO of Compass Diversified. “BOA has a proven, relentless focus on excellence, a unique culture and a passion for innovation, making the company an ideal addition to our diverse holdings. Leveraging CODI’s permanent capital base, we are continuing to strategically enhance our portfolio with rapidly growing companies like BOA in the branded consumer space. With significant potential for future growth across its major product categories, an in-depth understanding of consumer needs and preferences and efficient product development processes, we believe BOA is uniquely positioned to capitalize on the many opportunities ahead and increase market share across key industries.”