Benzinga | Jul 19, 2021 10:20AM EDT

Compass Diversified Sells Subsidiary Liberty Safe Holdings For $147.5M

* Compass Diversified Holdings (NYSE:CODI) has agreed to sell its majority-owned subsidiary, Liberty Safe Holding Corporation, the parent company of Liberty Safe and Security Products, Inc., to an affiliate of Monomoy Capital Partners ("Monomoy"), for approximately $147.5 million in cash.

* CODI expects to realize a gain of approximately $75 million to $85 million. Net proceeds are to be used for general corporate purposes and fund the previously announced special distribution of $0.88 per share.

* The transaction is expected to close by the end of August 2021.

* Price action: CODI shares closed at $24.50 on Friday.