A U.S. company called Compass Diversified Holdings has agreed to pay $257.5 million for a stake of 89.9 percent in the holding company of Camelbak, the leading supplier of portable hydration equipment for cyclists, hikers and other athletes. The price is based on an enterprise value of $245.0 million and represents about two times Camelbak's sales of $122.2 million in 2010, or just over eight times its Ebitda. Three years ago Compass Diversified bought a company that owns Fox Racing Shox, a supplier of suspension systems for mountain bikes (more in The Outdoor Industry Compass).

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