Compass Diversified Holdings Acquires SternoCandleLamp

Deal valued at $163 million.

Compass Diversified Holdings has acquired SternoCandleLamp for $163 million. Don Hinshaw, President & CEO of SternoCandleLamp, will continue to serve in the same capacity at the company.

For the year ended December 31, 2013, SternoCandleLamp reported net revenue of approximately $133.6 million. The purchase price for SternoCandleLamp was based on a total enterprise value of $161.5 million and included approximately $1.7 million of cash and working capital adjustments, according to a Compass release. SternoCandleLamp generated approximately $20 million of EBITDA for the last 12 months ending September 30, 2014. Acquisition related costs were approximately $2.7 million. CODI funded the acquisition through a draw of $166 million on its revolving credit facility.

Related Articles