Marucci Sports

Compass Diversified Reports Fourth Quarter and Full Year 2023 Financial Results

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Mercredi, février 28, 2024
Honey, Regulation S-K, Acquisition, Regulation, Partnership, Compass, Growth, Use, Sale, Debt-to-GDP ratio, Marucci Sports, Net income, Conference, Allspring Global Investments, Earnings, Fox Factory, GAAP, Webcast, PrimaLoft, Sport, Honeypot, Video game

“Our fourth quarter results exceeded our expectations and demonstrate that owning premium businesses with defensible competitive moats drives strong financial performance,” said Elias Sabo, CEO of Compass Diversified.

Key Points: 
  • “Our fourth quarter results exceeded our expectations and demonstrate that owning premium businesses with defensible competitive moats drives strong financial performance,” said Elias Sabo, CEO of Compass Diversified.
  • Adjusted Earnings, a non-GAAP financial measure, in the fourth quarter was $38.1 million vs. $16.3 million for the fourth quarter of 2022.
  • Net sales in the fourth quarter of 2023 were $567.0 million, up 7% compared to $529.7 million in the fourth quarter of 2022.
  • Branded consumer net sales increased 13% in the fourth quarter of 2023 to $371.9 million compared to the fourth quarter of 2022.

SweetSpot Announces Rebrand and Relaunch to Expand Presence in Backyard Sports

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Mercredi, février 7, 2024
Elysian, San Diego Padres, Major League Baseball, Jeff A. Schwartz, LSU, Marketing, IMG, Marucci Sports, Athlete, Creative Artists Agency, Football, Engineering, Friends, Sport, Participation, Social media, Los Angeles Dodgers, Golf

BATON ROUGE, La., Feb. 07, 2024 (GLOBE NEWSWIRE) -- SweetSpot, a backyard sports brand, today unveiled its rebrand and relaunch to increase its footprint across a variety of outdoor sports. SweetSpot’s new direction is spearheaded by a group of seasoned industry leaders – including SweetSpot CEO Joe Lawrence, Co-Founder of Marucci Sports – and features a fundraising round led by Elysian Park Ventures, the private investment arm affiliated with the Los Angeles Dodgers ownership group, with participation from Hockey Hall of Famer Wayne Gretzky.

Key Points: 
  • “Growing up, my favorite memories were playing catch with my dad in the backyard— those moments of quality time and genuine connection are priceless.
  • SweetSpot is committed to bringing that essence back and ensuring everyone remembers the pure, unadulterated fun of those backyard moments."
  • “SweetSpot is a daily refresher,” says Mike Shildt, SweetSpot Board Member.
  • Those interested in supporting the ongoing mission and development of SweetSpot are encouraged to follow @playsweetspot on all social media platforms for product highlights, ambassador partnerships, upcoming events and ultimate backyard fun.

Women’s Softball Greats Tara Henry and Jen McIntyre Lead Group of Investors Taking Over Softball America

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Jeudi, janvier 11, 2024
Other Sports, General Sports, Sports, Ian Ritchie (baseball), Taste, Atlanta Braves, Marucci Sports, Boston Red Sox, University, Head coach, Athlete, Pennsylvania State University, Sport, Boston University, Greeting, Internet, UCLA Bruins, Ohio State University, Indiana University

Tara Henry, the Head Coach of Great Britain Women’s National Softball team, along with former Division 1 Softball coach Jen McIntyre, will be leading a group of investors that will be taking over the publication Softball America.

Key Points: 
  • Tara Henry, the Head Coach of Great Britain Women’s National Softball team, along with former Division 1 Softball coach Jen McIntyre, will be leading a group of investors that will be taking over the publication Softball America.
  • Henry & McIntyre will take the reins at Softball America as co-owners while former DI Softball writer Brady Vernon will serve as a National Contributor at Softball America.
  • “I am thrilled to join the new Softball America team and excited for the journey ahead,” Said Tara Henry.
  • I am excited to be a part of a group willing to invest and grow all aspects of softball.

Compass Diversified Announces Investment Team Promotions

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Lundi, janvier 8, 2024
Claremont McKenna College, ERGO Baby, Bank, Marucci Sports, Fox Factory, Vanderbilt University, Byron Trott, Harvard Business School, PrimaLoft, University, BOA, Growth, Mergers and acquisitions, Sterno, Management

WESTPORT, Conn., Jan. 08, 2024 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE: CODI) ("CODI" or the "Company”), an owner of leading middle market businesses, proudly announces the promotions of investment team members Raj Dalal, Lucas Scholhamer and Phoebe Madsen.

Key Points: 
  • WESTPORT, Conn., Jan. 08, 2024 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE: CODI) ("CODI" or the "Company”), an owner of leading middle market businesses, proudly announces the promotions of investment team members Raj Dalal, Lucas Scholhamer and Phoebe Madsen.
  • "We’ve had another strong year at CODI, and it gives me great pleasure to celebrate the world-class talent on our investment team,” said Elias Sabo, CEO of Compass Diversified.
  • Promoted to Principal from Vice President:
    Lucas Scholhamer – Lucas is a member of the investment team at the firm’s East Coast office.
  • Promoted to Senior Associate from Associate:
    Phoebe Madsen – Phoebe is a member of the investment team at the firm’s West Coast office.

Compass Diversified Completes Sale of Marucci Sports

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Mercredi, novembre 15, 2023
Sale, NYSE, LLP, Marucci Sports, Fox Factory, FOX, Ropes & Gray, Jefferies Group, Partnership, Marucci

The sale price was based on an enterprise value of $572 million, subject to certain working capital and other adjustments.

Key Points: 
  • The sale price was based on an enterprise value of $572 million, subject to certain working capital and other adjustments.
  • This amount was in respect of its debt and equity interests in Marucci and the payment of accrued interest.
  • As previously announced, CODI expects to record a pre-tax gain of approximately $225 million to $245 million from the sale.
  • Elias Sabo, CEO of Compass Diversified, stated, “We are pleased to complete our sale of Marucci Sports and believe the Marucci team is well-positioned for future success under FOX ownership.

Diamond Kinetics and Marucci Unveil First-Of-Its-Kind Fully Integrated Smart Bat

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Mardi, novembre 28, 2023
Diamond, ID, Entrepreneurship, Baseball, AZR, Marucci Sports, Tiger, Marucci, Partnership, CATX, Apple, College World Series, Athlete, Francisco Lindor, USSSA, IOS, Sports equipment, Electric battery

and PITTSBURGH, Nov. 28, 2023 /PRNewswire/ -- Two of the most innovative companies in baseball, Marucci and Diamond Kinetics (DK), unveiled the Marucci CATX Smart, the first smart bat with an integrated sensor approved by USSSA for in-game use, setting a new standard for smart baseball equipment.

Key Points: 
  • and PITTSBURGH, Nov. 28, 2023 /PRNewswire/ -- Two of the most innovative companies in baseball, Marucci and Diamond Kinetics (DK), unveiled the Marucci CATX Smart, the first smart bat with an integrated sensor approved by USSSA for in-game use, setting a new standard for smart baseball equipment.
  • The Marucci CATX Smart is the first smart bat to be approved for in-game use as part of the United States Specialty Sports Association (USSSA) bat standard, so any tournament, league, or organization that requires the USSSA stamp will allow this bat in-game play.
  • "We can't wait for athletes to get their hands on the new Marucci CATX Smart," said Kurt Ainsworth, Co-Founder and CEO of Marucci Sports.
  • "The Marucci CATX Smart is a direct lens into the future of the game of baseball," said CJ Handron, Co-Founder and CEO of Diamond Kinetics.

Fox Factory Holding Corp. Reports Third Quarter Fiscal 2023 Financial Results and Announces Agreement to Acquire Marucci Sports

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Jeudi, novembre 2, 2023
FOX, OEM, Element, Sport, NYSE, Heart, United Auto Workers, EBITDA, AAG, PVG, Workforce, Share repurchase, Acquisition, Aluminium, Research, UAW, Growth, SSG, ID, Accounting, Fox Factory, Marucci Sports, Letter, Security (finance), Pharmaceutical industry, Marucci, Victus

Net sales for the third quarter of fiscal 2023 were $331.1 million, a decrease of 19.1%, as compared to net sales of $409.2 million in the third quarter of fiscal 2022.

Key Points: 
  • Net sales for the third quarter of fiscal 2023 were $331.1 million, a decrease of 19.1%, as compared to net sales of $409.2 million in the third quarter of fiscal 2022.
  • The Company’s effective tax rate was 9.0% in the third quarter of fiscal 2023, compared to 20.8% in the third quarter of fiscal 2022.
  • Adjusted EBITDA in the third quarter of fiscal 2023 was $63.7 million, compared to $85.1 million in the third quarter of fiscal 2022.
  • Adjusted EBITDA margin in the third quarter of fiscal 2023 was 19.2%, compared to 20.8% in the third quarter of fiscal 2022.

Compass Diversified Reports Third Quarter 2023 Financial Results

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Jeudi, novembre 2, 2023
Sport, Sale, World's oldest architectural practices continuously operating, NYSE, Regulation, Earnings, Use, EBITDA, Conference, GAAP, Acquisition, Milk Income Loss Contract Payments, Net income, BOA, Regulation S-K, Financial Accounting Standards Board, PrimaLoft, Webcast, Altor, Sterno, Fox Factory, Debt-to-GDP ratio, Marucci Sports, Rare-earth element, Bookkeeping, Reinsurance, Sales, Video game, Security (finance), Medical device, Adjustment, Series

“Our third quarter results were remarkably strong, driven by Lugano’s continued outperformance and the majority of our companies performing above expectations,” said Elias Sabo, CEO of Compass Diversified.

Key Points: 
  • “Our third quarter results were remarkably strong, driven by Lugano’s continued outperformance and the majority of our companies performing above expectations,” said Elias Sabo, CEO of Compass Diversified.
  • Paid a third quarter 2023 cash distribution of $0.25 per share on CODI's common shares in October 2023.
  • On July 5, 2023, CODI announced that Mr. C. Sean Day retired from the Board of Directors (the “Board”) of Compass Group Diversified Holdings LLC, effective June 30, 2023.
  • Operating income for the third quarter of 2023 was $28.4 million compared to $43.8 million in the third quarter of 2022.

Compass Diversified Announces Sale of Marucci Sports for $572 Million

Retrieved on: 
Jeudi, novembre 2, 2023
FOX, Sale, NYSE, Jefferies Group, Entrepreneurship, Growth, LLP, Partnership, Ropes & Gray, Fox Factory, Agreement, Marucci Sports, Uncertainty, Marucci

Under the terms of the Agreement, Marucci will be sold to FOX for an enterprise value of $572 million, subject to certain working capital and other adjustments.

Key Points: 
  • Under the terms of the Agreement, Marucci will be sold to FOX for an enterprise value of $572 million, subject to certain working capital and other adjustments.
  • CODI expects to realize a pre-tax gain on the sale of between $225 million to $245 million.
  • Proceeds from the transaction will be used to pay down outstanding debt and for general corporate purposes.
  • “We are very proud of the growth Marucci has seen under our ownership and feel fortunate to have been able to partner with the Marucci management team,” said Elias Sabo, CEO of Compass Diversified.

Compass Diversified Reports Second Quarter 2023 Financial Results

Retrieved on: 
Mercredi, août 2, 2023
Marucci Sports, Baseball, Use, BOA, World's oldest architectural practices continuously operating, Debt-to-GDP ratio, Milk Income Loss Contract Payments, GAAP, Financial Accounting Standards Board, EBITDA, PrimaLoft, Acquisition, Net income, Regulation S-K, Webcast, Earnings, Conference, NYSE, Regulation, Velocity, Fine chemical, Bookkeeping, Sales, Financial adviser, Video game, Security (finance), Music, Medical device, Series, Adjustment

“Our second quarter results were once again driven by the strength and diversification of CODI’s subsidiary businesses,” said Elias Sabo, CEO of Compass Diversified.

Key Points: 
  • “Our second quarter results were once again driven by the strength and diversification of CODI’s subsidiary businesses,” said Elias Sabo, CEO of Compass Diversified.
  • Net sales in the second quarter of 2023 were $524.2 million, up 2% compared to $515.6 million in the second quarter of 2022.
  • Niche industrial net sales decreased 7% in the second quarter of 2023 to $175.6 million compared to the second quarter of 2022.
  • Net income in the second quarter of 2023 was $17.1 million compared to $31.0 million in the second quarter of 2022.