Fox secondary public offering closes with reduced Compass stake

Fox Factory’s secondary public offering of 4,025,000 shares has closed, with the Compass Group’s share of the business dipping from around 23% to 14%.

Selling at $21 per share, the aggregate shares sold amounted to 525,000. No shares were sold by the company itself.

CEO of Compass Diversified Holdings Alan Offenberg offered: “With today’s transaction, we have further bolstered our financial liquidity for capitalizing on strategic add-on and platform acquisition opportunities, while increasing the total gains realized from investments in our subsidiaries to approximately $650 million. We continue to be a substantial shareholder in FOX and remain excited about the company’s growth potential.”

Read more on the transactions at Fox’s Investor page here.