Fox Factory announced it completed a transaction in which Compass Diversified Holdings (CODI) purchased a majority interest in Fox, according to a Fox Racing Shox press release.
Company Founder Bob Fox will keep significant ownership in the company despite additional senior managers. Fox says this movement marks the next chapter in the company’s history.
“Being a successful, healthy company, Fox had the luxury of being able to carefully search out and select the best partner for this transition,” Fox said. “The financial strength and resources Compass provides will enable Fox to continue our strong growth and leadership in all of our markets. Importantly, the Compass vision provides a transition that will be seamless and virtually invisible to all concerned – including customers, vendors and employees.”