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5.11 Public filings for IPO

Growing fleet of 5.11 stationary fleets as part of the lifestyle brand strategy

Irvine retailer and tactical equipment manufacturer 5.11 ABR Corp. has submitted an IPO.

The company proposed in a filing on Monday that it should trade on the Nasdaq Global Market under the VXI.

Estimates of the stock price were not given and 5.11 listed a placeholder amount of $ 100 million for the proceeds of the IPO.

The company is part of Westport, Connecticut-based Compass Diversified (NYSE: CODI), which has a portfolio of multiple companies and a market capitalization of $ 2.1 billion. The most recent purchase was Newport Beach-based Lugano Diamonds & Jewelry Inc., which in September sold a 60% stake in Compass, which was valued at $ 256 million.

5.11 was launched in 2003 as a spin-off of the outdoor brand Royal Robbins, with Compass acquiring the business for $ 408.2 million in 2016.

5.11 had 85 stores at the end of September and stated in its filing that 43% of its total sales were generated through the direct-to-consumer channel.

The company had net sales of $ 401 million last year, 3.1% more than last year. The company posted net income of $ 10.3 million in 2020, compared to $ 4.1 million in 2019.

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