Compass Diversified amendment lifts revolver by $150 million

By Wendy Van Sickle

Columbus, Ohio, Aug. 31 – Compass Group Diversified Holdings LLC increased revolving commitments by $150 million via a Wednesday amendment to its credit agreement dated June 6, 2014, with Bank of America, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The company also added a previously reported $250 million incremental tranche B term facility under the amendment.

BofA Merrill Lynch and SunTrust Robinson Humphrey, Inc. were the bookrunners and were joined as joint lead arrangers by TD Securities (USA) LLC and U.S. Bank NA. TD Bank, NA and U.S. Bank were the co-documentation agents.

Proceeds were used to fund the company’s $400 million acquisition of 5.11 Tactical.

The amendment also extended the date through which a prepayment premium would be due in connection with a repricing transaction to Feb. 28, 2017, and increased the amount of the term loan quarterly amortization payments. All other material terms and conditions of the credit agreement were unchanged.

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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