- Compass Diversified ( NYSE: CODI ) said Wednesday it will sell its majority owned unit Compass AC, the parent firm of Advanced Circuits, to printed circuit board manufacturer APCT.
- Advanced Circuits will be sold for an enterprise value of $220M cash at close.
- Compass ( CODI ) expects to realize a pre-tax gain on the sale of $100M-$110M.
- Net proceeds will be used to pay off outstanding revolver borrowings.
- The deal is expected to close in February.
- Earlier, Compass ( CODI ) declared $0.25 quarterly dividend .
For further details see:
Compass Diversified to sell Advanced Circuits for $220M enterprise value