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.