Westport-based Compass Diversified Holdings has entered into an agreement to acquire Foam Fabricators Inc. for $247.5 million.Founded in 1957 and headquartered in Scottsdale, Arizona, Foam Fabricators is a designer and manufacturer of custom molded protective foam products and components. The company has 13 state-of-the-art molding and fabricating facilities across North America and reported approximately $126 million in net revenue for the 12-month period ending November 2017. James K. Hughes, president of Foam Fabricators, will take the role of CEO and continue leading the company.
“We are pleased to start the year with an attractive platform acquisition, growing our family of niche-leading businesses to 10,” said Alan Offenberg, CEO of Compass Diversified Holdings, which owns and manages a diverse family of established North American middle-market businesses. “This platform acquisition will be immediately accretive and will enable us to continue growing our cash flow and provide attractive and stable distributions.”