June 5, 2009 (FinancialWire) — Compass Diversified Holdings (NASDAQ: CODI) has priced a public offering of 5.1 million trust shares at $8.85 per share, raising $45.1 million in gross proceeds. Morgan Stanley (NYSE: MS) was the sole book-running manager on the offering.

The underwriters will have a 30-day option to purchase up to an additional 765,000 trust shares from the company to cover over-allotments.

Compass Diversified said it plans to use the net proceeds from the offering for general corporate purposes. The closing is scheduled to occur on or about June 9.

Westport, Connecticut-based Compass Diversified Holdings was formed to acquire and manage a group of middle market businesses that are headquartered in North America.

The company’s Ecru, Mississippi-based AFM Holdings subsidiary and its consolidated subsidiaries, referred to as American Furniture, is a low-cost manufacturer of upholstered stationary and motion furniture with the ability to ship any product in its line within 48 hours of receiving an order.

Compass’ Los Angeles-based Anodyne Medical Device holding, and its consolidated subsidiaries, referred to as AMD, is a manufacturer of medical support surfaces and patient positioning devices, which are primarily used for the prevention and treatment of pressure wounds experienced by patients with limited to no mobility.

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