Compass Diversified draws down revolver to help fund Lugano acquisition

By Rebecca Melvin

Concord, N.H., Sept. 7 – Compass Diversified Holdings funded the cash portion of the purchase price of its recent acquisition of Lugano Holdings Inc. with borrowings under its revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission.

The company paid about $198 million in cash upon the closing of the transaction.

Concurrent with the closing, Compass Diversified provided a credit facility to Lugano that includes a secured revolving loan commitment and secured term loan. The initial amount outstanding under the Lugano credit agreement was about $102 million.

Compass Diversified is a Westport, Conn.-based owner and manager of middle market businesses.

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