Compass Group Diversified to pay down revolver with sale proceeds

By Angela McDaniels

Tacoma, Wash., July 1 – Compass Group Diversified Holdings LLC plans to repay outstanding debt under its revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

The company will use proceeds from the sale of its stake in CEHI Acquisition Corp. to Calrissian Holdings, LLC. CEHI is the parent company of Clean Earth, Inc.

Compass expects to receive $549 million from the sale, which closed on Friday.

Proceeds will also be used for general corporate purposes.

Compass is based in Westport, Conn. It acquires and manages small to middle market businesses.

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