Compass Diversified Holding (Codi) has announced it has raised around $63 million in total net proceeds following the sale of 3.5 million shares in Fox Factory Holding Corp., a maker of high-performance suspension systems for mountain bikes and off-road vehicles, in a secondary offering that also involves other shareholders. BofA Merrill Lynch, the investment division of Bank of America, has acquired a stake of nearly 10 percent in Fox by purchasing around four million shares through the secondary offering. Codi remains with a 23 percent shareholding in Fox. For its part, Codi agreed to acquire 5.11 Tactical for $400 million, at the end of July. Based in California, 5.11 Tactical designs and markets purpose-built tactical apparel and gear for a wide range of customers globally including firefighters, law enforcement, military special operations, as well as outdoor enthusiasts.

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