Compass Diversified Holdings has agreed to buy PrimaLoft Inc. in a transaction valuing the provider of synthetic insulation at about $530 million, including debt, according to a press release reviewed by Bloomberg News.
The transaction is expected to close in July, the press release showed. PrimaLoft is owned by private equity firm Victor Capital Partners.
Latham, New York-based PrimaLoft provides materials to produce synthetic down jackets and its customers include Nike Inc., Patagonia and Canada Goose Holdings Inc. Founded in 1983, the company was started to create an alternative to goose down for the US Army.
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