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Compass Diversified Buys Furniture Maker

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-09-04

WESTPORT, Conn. (AP) -- Compass Diversified Trust, an acquirer and manager of middle market businesses, said Tuesday it acquired American Furniture Manufacturing Inc. for $92.5 million.

Ecru, Miss.-based American Furniture manufactures upholstered furniture focused on the promotional segment of the industry.

The acquisition will be immediately accretive to earnings, the company said in a statement.

Most of the financing came from cash on hand. About $30 million was drawn from Compass's $300 million revolving acquisition credit facility.

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