Compass Diversified Announces Appointment of Matthew Blake as CEO of Arnold Magnetics
WESTPORT, Conn., April 01, 2025 (GLOBE NEWSWIRE) -- Compass Diversified Holdings (NYSE:CODI) ("CODI" or the "Company"), an owner of leading middle market branded consumer and industrial businesses, today announced that Matthew Blake has been named Chief Executive Officer of its subsidiary, Arnold Magnetic Technologies Corporation ("Arnold"), a leading global manufacturer of high-performance electric motors, magnets, and thin metals, effective March 31, 2025. Concurrent with his appointment, Blake will join Arnold's Board of Directors. After a successful nine-year tenure as CEO, Dan Miller will be concluding his time at Arnold after a planned transition period ending April 30, 2025.
"On behalf of Compass and Arnold, I want to extend our sincere gratitude to Dan for his dedication and service in building Arnold into the industry leader it is today," said Elias Sabo, CEO of CODI. "Under his leadership, Arnold has strengthened its position as a leading solutions provider, successfully navigated the COVID-19 pandemic and oversaw the company's recent plant relocation. We wish him all the best. I also want to welcome Matt to both Arnold and Compass Diversified. With leadership experience spanning multiple facets of industrial manufacturing, I believe he is the ideal choice to lead Arnold in its next phase of growth."
Blake brings broad global operations experience across a range of industrial end-markets. He has a track record of driving growth, operational excellence and strategic execution. Most recently, he was the Chief Operations Officer at DwyerOmega, a manufacturer and global provider of precision measurement solutions. Prior to DwyerOmega, he held various leadership roles at Alpha Packaging, Cleaver-Brooks, and ESAB Welding & Cutting Products. Blake holds a Master of Science in Engineering and Global Operations Management from Clarkson University, as well as an MBA from Webster University.
Ryan Thorp, Chairman of Arnold's Board of Directors added: "We are extremely grateful for Dan's stewardship of Arnold in continuing to grow and diversify the business and position it for continued success. I'd also like to welcome Matt to Arnold. Matt possesses a wealth of industrial experience and I am sure he will build on Arnold's impressive performance."
Dan Miller added: "It has been an honor to lead Arnold and work alongside such a talented and committed team. I am incredibly proud of what we have accomplished together and wish the company continued success under Matt's leadership."
"I am excited at the privilege of leading the exceptional team at Arnold and building upon its strong foundation," said Matthew Blake, incoming CEO of Arnold. "I look forward to driving continued success and creating value for our customers and shareholders."
About Compass Diversified ("CODI")
Since its IPO in 2006, CODI has consistently executed its strategy of owning and managing a diverse set of highly defensible, middle-market businesses across the branded consumer, industrial, healthcare, and critical outsourced services sectors. The Company leverages its permanent capital base, long-term disciplined approach, and actionable expertise to maintain controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment and accountability. For more information, please visit compassdiversified.com.
About Arnold Magnetic Technologies
Based in Rochester, NY, Arnold serves a variety of markets including aerospace and defense, general industrial, motorsport/automotive, oil and gas, medical, energy, reprographics and advertising specialties. Over the course of more than 125 years, Arnold has successfully evolved and adapted its products, technologies, and manufacturing presence to meet the demands of current and emerging markets. Arnold produces high performance permanent magnets (PMAG), turnkey electric motors ("Ramco"), precision foil products (Precision Thin Metals or "PTM"), and flexible magnets (Flexmag™) that are mission critical in motors, generators, sensors and other systems and components. Arnold has expanded globally and built strong relationships with its customers worldwide.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with regard to the expectations related to the future performance of Arnold and CODI. Words such as "believes," "expects," "will," "anticipates," "intends," "continue," "projects," "potential," "assuming," and "future" or similar expressions, are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions, some of which are not currently known to CODI. In addition to factors previously disclosed in CODI's reports filed with the SEC, the following factors, among others, could cause actual results to differ materially from forward-looking statements: changes in the economy, financial markets and political environment; risks associated with possible disruption in CODI's operations or the economy generally due to terrorism, natural disasters, social, civil and political unrest or the COVID-19 pandemic; future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); and other considerations that may be disclosed from time to time in CODI's publicly disseminated documents and filings. Further information regarding CODI and its subsidiaries and factors which could affect the forward-looking statements contained herein can be found in CODI's annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Forward-looking statements speak only as of the date they are made. Except as required by law, CODI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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