Compass Diversified Holdings
compassdiversified.comCompass Diversified Holdings (NYSE: CODI) is a permanent capital holding company that acquires and manages controlling interests in middle-market businesses across consumer and industrial end markets. It makes money by owning majority stakes in operating subsidiaries, collecting their cash flows, and earning a management fee paid to its external manager regardless of performance. CODI's portfolio as of the FY2025 10-K (filed 2026-02-27) includes 5.11 ABR Corp. (tactical apparel and gear), BOA Holdings (performance fit systems), The Honey Pot Co. (feminine care products), Velocity Outdoor (archery and hunting products), Altor Solutions (custom molded foam packaging), and Sterno (portable food warming and home fragrance). The Trust structure is organized as a Delaware LLC and listed on the New York Stock Exchange. CODI suspended its quarterly common share distribution during 2025 following an internal investigation into its Lugano subsidiary, which filed for Chapter 11 bankruptcy in November 2025 and was deconsolidated from CODI's financials at that date.
Products & Services
5.11 tactical apparel, footwear, and gear; BOA Fit System dials, laces, and guides for performance footwear and headwear; The Honey Pot Co. feminine care products; Velocity Outdoor's Ravin crossbows, CenterPoint archery products, and King's Camo hunting apparel; Altor Solutions custom EPS foam protective packaging and OEM components; Sterno portable food warming systems, wick and gel chafing fuels, butane stoves, wax candles, catering equipment, scented wax cubes, and home fragrance products.
Revenue Model
CODI consolidates revenue from its operating subsidiaries across consumer and industrial segments. The external manager earns a base management fee and profit allocation from the Trust. Distributions to common shareholders are discretionary and non-cumulative.
Customers & Markets
Tactical professionals and enthusiasts (5.11); performance footwear and gear brands (BOA); feminine care consumers (The Honey Pot Co.); hunters and archery enthusiasts via national retail chains and dealer networks (Velocity Outdoor); OEM manufacturers and industrial packagers (Altor Solutions); foodservice and catering operators and home decor consumers (Sterno).
Geographic Exposure
Primarily United States, with 5.11 operating sales offices and distribution centers globally. Headquarters in Westport, Connecticut (Trust level). Subsidiaries headquartered in Costa Mesa CA, Atlanta GA, Rochester NY, St. Louis MO, and Texarkana TX.
Peers: Cannae Holdings Inc PHI GROUP INC
Source: SEC 10-K, filed 2026-02-27
Financial Snapshot
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