Fox Factory Holding Corp Goes Public
WESTPORT, USA – Fox Factory Holding Corp. will be taken to the stock market by its owner Compass Diversified Holdings. The number of shares to be offered and the price range for the proposed offering have not yet been determined.
Last week Compass Diversified Holdings, acquirer, owner and manager of high cash flow, niche leading middle market businesses, has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of Fox’s common stock.
Growing market share
Compass Diversified Holdings who also owns brands like Camelbak, Ergobaby, American Furniture Manufacturing, Arnold Magnetic and Tridien Medical acquired Fox in January 2008 from founder, Bob Fox for US$ 85 million (€ 65m).
According to the company’s investor presentation, Fox has steadily taking market share from competitors in all three divisions mountain, biking, powersports and offroad since then.
Net sales and operating income
For the fiscal year 2012 Fox had net sales of approximately US$ 235.9 million(€ 181.1m) up 19.32% related to 2011. The total operating income amounted US$ 26.2 million (€ 20.1m), an increase of 15.9% compared with 2011.
Robert W. Baird & Co. Incorporated, William Blair & Company, L.L.C. and Piper Jaffray & Co. will act as joint book-running managers for the proposed offering.