Compass Diversified to launch $250 million term loan B on Friday

By Sara Rosenberg

New York, Aug. 3 – Compass Diversified Holdings will hold a lender call on Friday to launch a $250 million incremental term loan B, according to a market source.

The incremental term loan B is expected to have identical terms as the company’s outstanding term loan.

Bank of America Merrill Lynch is the lead arranger and bookrunner on the deal.

Proceeds will be used with revolving credit facility borrowings to fund the acquisition of 5.11 Tactical for $400 million, excluding working capital and certain other adjustments upon closing.

Closing is expected within the next 45 days, subject to customary conditions.

Compass Diversified is a Westport, Conn.-based owner and manager of a diverse family of middle market businesses. 5.11 Tactical is an Irvine, Calif.-based designer and marketer of purpose-built tactical apparel and gear.

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