WESTPORT,CT – Compass Diversified has announced the completion of the company’s previously announced sale of Compass AC Holdings, the parent company of Advanced Circuits, to APCT, a manufacturer of printed circuit boards, and portfolio company of Industrial Growth Partners.

The sale price was based on an enterprise value of $220 million plus estimated cash and working capital adjustments subject to customary post-closing true-ups. After those adjustments, as well as an allocation to ACI’s non-controlling shareholders and the payment of transaction expenses, Compass Diversified received approximately $170 million of total proceeds from the sale at closing. As previously announced, Compass Diversified expects to record a pre-tax gain of approximately $100 million to $110 million from the sale, and net proceeds will be used to pay off outstanding revolver borrowings.

"We are deeply proud of our partnership and success with John and Jeff Yacoub, which started more than sixteen years ago," said Compass Diversified CEO Elias Sabo "CODI’s permanent capital structure and support throughout this partnership has generated significant value for our shareholders, and we are grateful for the Advanced Circuit team’s contributions and look forward to their continued success."

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