FOX is a designer, manufacturer and marketer of high-performance suspension products used primarily on mountain bikes, side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles.
Date of Acquisition
Jan 2008
Purchase Price
$80M
Years Held
5.5
Total Proceeds
$527M
“As founder of FOX, and the sole owner for over 30 years, I am now very excited about this transition of ownership to Compass. The financial strength and resources Compass provides will enable Fox to continue its strong growth and leadership in all its markets.”
Competitive Strengths
Global, premium, performance-based lifestyle brand
Highly-engineered products with focus on innovation
Large white space opportunity in new vehicle categories
Strong OEM relationships and global aftermarket distribution network
Experienced management team leading company of enthusiasts
Value Creation
IPO provided increased capital availability and access to lower cost of capital to fund growth initiatives
Recruited professional management team including CEO, CFO and SVP of Operations
Streamlined mountain bike supply chain and co-located by key OEMs
Supported large R&D budget to drive new product introduction in rapidly growing vehicle categories like side-by-sides and off-road trucks
Invested heavily in sales and marketing to drive consumer demand and loyalty
Exit
In August 2013, CODI completed an Initial Public Offering of FOX Factory Holding Corp. (NASDAQ:FOXF) at $15.00 per share. CODI subsequently reduced its holding position via 5 secondary share offerings from 2014 to 2017, ultimately realizing total proceeds of over $527 million following its final disposition of FOX.
- Under CODI’s leadership, FOX recruited a professional management team, including a CEO, CFO and SVP of Operations, which enabled its eventual IPO. With CODI’s support and guidance, FOX streamlined its mountain bike supply chain and co-located adjacent to key OEMs. CODI monetized significant growth initiatives at FOX, including supporting a large R&D budget to drive new product introduction in rapidly growing vehicle categories like side-by-sides and off-road trucks, and significant investments in sales and marketing to drive consumer demand and loyalty.
- The share price of Fox Factory Holding (NASDAQ:FOXF) as a non-consolidated public entity has increased 704% over the past five years, enabling it to continue its growth trajectory and solidify its position as a leader in its market.