Compass Diversified (NYSE:CODI) said Wednesday it will sell its majority owned unit Compass AC, the parent firm of Advanced Circuits, to printed circuit board manufacturer APCT.
Advanced Circuits will be sold for an enterprise value of $220M cash at close.
Compass (CODI) expects to realize a pre-tax gain on the sale of $100M-$110M.
Net proceeds will be used to pay off outstanding revolver borrowings.
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The deal is expected to close in February.
Earlier, Compass (CODI) declared $0.25 quarterly dividend.
Source: Seeking Alpha
