Investment company buys 5.11 Tactical for $400 million

An outdoor investment group announced plans to buy tactical apparel company 5.11 Tactical for $400 million this week.

Compass Diversified Holdings entered into an agreement Monday to acquire the popular brand and expects to close within 45 days.

Alan Offenberg, CODI’s chief executive officer, said 5.11 is a strong addition to the investor’s host of brands, which include Crosman and Camelbak.

“We welcome the opportunity to serve law enforcement, first responders, military personnel as well as the tactical consumer market,” he said in a statement.

He added. 5.11 possess essential qualities that CODI seeks in a subsidiary, including market share leadership, diverse revenue streams, growing cash flows, proven managers, and compelling growth opportunities.

For the past 12 months, 5.11 reported net revenue of $293 million. Headquartered in Irvine, California, 5.11 operates international sales offices in Sweden, Mexico, Australia, China and UAE.

Tom Davin, 5.11’s CEO, and Francisco Morales, the company’s president, will continue to serve in the same roles at the company.

CODI closed out its second quarter last month and will release results later this week. For annual revenue in 2015, the company raked in more than $805 million.

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