Yahoo Finance Compass Diversified-Backed Marucci Sports Announces Acquisition of Baum Bat
BATON ROUGE, La., April 04, 2023 (GLOBE NEWSWIRE) -- Marucci Sports, LLC (“Marucci”), a subsidiary of Compass Diversified (NYSE: CODI) and a leading designer and manufacturer of baseball and fastpitch equipment and apparel, today announced it has acquired Baum Enterprises LLC (“Baum Bat”), a designer and manufacturer of composite wood bats. Terms of the transaction were not disclosed.
The acquisition of Baum Bat will expand Marucci’s product line and strengthen its position as a leader in diamond sports by bolstering its technological capabilities while simultaneously enhancing the company’s wood bat presence.
Founded in 1993 with a focus on technology and innovation, Baum Bat is known for producing high-quality composite wood bats that are both durable and high performing, earning the trust of amateur and professional players alike. Baum Bat are the first wood composite baseball bats approved for wood bat play from high school to the lower levels of professional baseball. Baum Bat’s leadership team, including its president and owner Ben Boulware, will continue to lead the brand as part of Marucci.
“Our #1 priority has always been to make the highest performing products that give players the best chance to succeed,” said Kurt Ainsworth, Co-Founder and CEO of Marucci Sports. “Marucci has always sought out companies developing best-in-class products to join their portfolio of brands. Victus, Lizards Skins, and now Baum Bat, have changed the game and we couldn’t be more excited to work with their team. Baum has taken composite technology to the next level with their composite bats, and we see their products as highly complementary with significant runway to grow.”
Baum Bat President, Ben Boulware, commented: “In joining the Marucci family, we are thrilled about our next stage of growth and look forward to working with their exceptional team. Baum Bat has delivered the world’s most durable composite wood bat for nearly 30 years, and our commitment to the highest level of excellence is what makes us the perfect partner. I’m excited to continue the development of our high-quality products in tandem with the Marucci team.”
Elias Sabo, CEO of CODI, added: “At CODI we take pride that our permanent capital structure has once again enabled us to continue investing in the future of our subsidiary, and we are excited to partner with Marucci in its acquisition of Baum Bat. Baum and Marucci are both established brands, and each have long histories of helping athletes compete and win. Together, they will be able to deliver a deeper range of bat products, and generate long-term value for all stakeholders, including athletes and our shareholders.”
About Marucci
Founded in 2009, Marucci Sports is a leading manufacturer and distributor of baseball and fastpitch equipment under the Marucci and Victus brands, headquartered in Baton Rouge, Louisiana. Marucci’s product portfolio includes wood and metal bats, fielding gloves, batting gloves, apparel, bags, accessories and protective gear. Today, Marucci and Victus are the top two most-used bats among Big League players. Through its acquisition of Lizard Skins, Marucci expanded its presence into hockey, cycling and esports.
About Baum Bat
Founded in 1993, Baum Bat is the leading manufacturer of branded wood composite baseball bats. The high performance and durable equipment are approved for various professional leagues, NCAA and BBCOR certified for college and high school play, as well as Perfect Game, PBR, WWBA, CABA, AABC and 99% of all tournaments and summer leagues.
About Compass Diversified
Since its founding in 1998, and IPO in 2006, CODI has consistently executed on its strategy of owning and managing a diverse set of highly defensible, middle-market businesses across the niche industrial, branded consumer and healthcare sectors. The Company leverages its permanent capital base, long-term disciplined approach, and actionable expertise to maintain controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment and accountability. For more information, please visit compassdiversified.com.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with regard to the expectations related to the future performance of PrimaLoft and CODI and the anticipated closing of the transaction. Words such as "believes," "expects," “will,” “anticipates,” “intends,” “continue,” "projects," “potential,” “assuming,” and "future" or similar expressions, are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions, some of which are not currently known to CODI. In addition to factors previously disclosed in CODI’s reports filed with the SEC, the following factors, among others, could cause actual results to differ materially from forward-looking statements: ability to obtain necessary approvals and meet other closing conditions to the acquisition on the expected terms and schedule; delay in closing the acquisition; difficulties and delays in integrating PrimaLoft’s business or fully realizing cost savings and other benefits; business disruption following the closing of the transaction; changes in the economy, financial markets and political environment; risks associated with possible disruption in CODI’s operations or the economy generally due to terrorism, natural disasters, social, civil and political unrest or the COVID-19 pandemic; future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); general considerations associated with the COVID-19 pandemic and its impact on the markets in which we operate; and other considerations that may be disclosed from time to time in CODI’s publicly disseminated documents and filings. Further information regarding CODI and factors which could affect the forward-looking statements contained herein can be found in CODI’s annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Forward-looking statements speak only as of the date they are made. Except as required by law, CODI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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