Compass Diversified draws on revolver to help fund CamelBak purchase

By Sara Rosenberg

New York, Aug. 25 - Compass Diversified Holdings used drawings under its revolving credit facility to help fund the acquisition of CamelBak Products LLC, according to a news release.

The purchase price for CamelBak was $257.5 million based on a total enterprise value of $245 million and the inclusion of $12.5 million of cash and working capital adjustments.

Other funds for the transaction came from the private placement of 1.575 million of common shares.

Concurrently with the closing, the company provided a credit facility to CamelBak that includes a secured revolver and a secured term loan. The initial amount outstanding under these facilities at the close of this transaction was approximately $145.2 million.

Compass Diversified is a Westport, Conn.-based investment firm specializing in acquiring controlling stakes in small- to middle-market companies. CamelBak is a Petaluma, Calif.-based provider of personal hydration gear.

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