News
Fox partners with CODI
Carlton Reid Jan 8 2008, 9:15am
Compass Diversified Holdings has purchased a majority interest in Fox Racing Shox
Company founder Bob Fox, who will remain Chief Executive Officer, said: “For over thirty years Fox Racing Shox has been devoted to fulfilling the performance needs of our customers. Over the last several years Fox has experienced unprecedented growth, and we now look forward to being partnered with Compass for the next chapter in our company’s history.
"Being a successful, healthy company, Fox had the luxury of being able to carefully search out and select the best partner for this transition. The financial strength and resources Compass provides will enable Fox to continue our strong growth and leadership in all of our markets. Importantly, the Compass vision provides a transition that will be seamless and virtually invisible to all concerned – including customers, vendors, and employees.”
Bob Fox will retain ownership in Fox - an ownership now shared with other senior managers.
“It’s been a wonderful and exhilarating ride to see the company I started in my friend’s garage grow to sales of over $100m," said Fox.
Joe Massoud, CODI’s Chief Executive Officer, said: “Fox is a strong addition to CODI. This company possesses the critical characteristics we look for in all of our businesses, including market leadership and proven management. Bob Fox and the company’s senior management team have driven growth by providing innovative suspension products for over three decades and we look forward to working with them to continue and accelerate this growth.”
Compass Diversified Holdings was formed to acquire and manage a group of middle market businesses that are headquartered in North America. CODI provides public investors with an opportunity to participate in the ownership and growth of companies which have historically been owned by private equity firms or wealthy individuals or families.
