Company: CODI-PB
Filing Date: 2025-12-08
Form Type: 10-K/A
Source: 0001345126-25-000078
Chunk: 268

Company: Compass Diversified Holdings
Filing Date: 2025-12-08
Form: 10-K/A
Chunk 268
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 31, 2023. In the first quarter of 2024, the LLC received a net working capital settlement of approximately $ 3.3million related to Marucci, which was recognized as an additional gain on sale of discontinued operations, net of taxes, in the accompanying consolidated statement of operations. The proceeds from the Marucci sale were used to pay down outstanding debt under the Company’s 2022 Credit Facility and to fund an acquisition by Company.

Summarized results of operations of Marucci for the previous years through the date of disposition are as follows (in thousands):

|                                               |     |   | For the period January 1, 2023 through disposition |     |   | Year ended December 31, 2022 |
|:----------------------------------------------|:----|:--|---------------------------------------------------:|:----|:--|-----------------------------:|
| Net sales                                     |     | $ |                                            167,898 |     | $ |                      165,411 |
| Gross profit                                  |     |   |                                             94,891 |     |   |                       83,628 |
| Operating income                              |     |   |                                             17,073 |     |   |                       21,113 |
| Income from operations before income taxes(1) |     |   |                                             17,040 |     |   |                       22,974 |
| Provision (benefit) for income taxes          |     |   |                                             -2,467 |     |   |                        4,320 |
| Income from discontinued operations(1)        |     | $ |                                             19,507 |     | $ |                       18,654 |

(1) The results of operations for the periods from January 1, 2023 through disposition and the year ended December 31, 2022, each exclude $ 8.9million and $ 7.0million, respectively, of intercompany interest expense.

Sale of Advanced Circuits

On January 10, 2023, the LLC, solely in its capacity as the representative of the holders of stock and options of Compass AC Holdings, Inc., a majority owned subsidiary of the LLC, entered into a definitive Agreement and Plan of Merger with APCT Inc. (“ACI Purchaser”), Circuit Merger Sub, Inc. (“ACI Merger Sub”) and Advanced Circuits, pursuant to which ACI Purchaser agreed to acquire all of the issued and outstanding securities of Advanced Circuits, the parent company