ADW Capital Management Sends Letter to Compass Diversified’s Board Reiterating its Call for an Immediate Strategic Review Process and Orderly Liquidation of the Company

Believes That Strategic Process is Required to Prevent Further Value Destruction

ADW Capital Analysis Supports Potential Value Creation of $50 to $60 of Value per Share from Internalization of External Manager

Letter Includes ADW Capital Findings on Board Member Relationships Indicating Lack of True Independence and Presence of Conflicts

Urges the Board to Engage with ADW Capital or Face Proxy Contest

MIAMI BEACH, Fla., July 16, 2026 (GLOBE NEWSWIRE) -- ADW Capital Management, LLC (“ADW”), which beneficially owns approximately 19.3% of the Common Stock of Compass Diversified Holdings (NYSE:CODI) (the “Company”) through ownership of shares and stock options, issued an open letter to the Company’s board of directors urging the Company to undertake a strategic review process.

The full text of ADW’s letter to the Board can be viewed here.

https://www.sec.gov/Archives/edgar/data/1345126/000119312526305785/ck0000000000-ex99_4.pdf

About ADW Capital Management, LLC

ADW Capital Management, LLC is the investment advisor for a concentrated, long-biased investment partnership founded by Adam Wyden in 2010.

Contact

Adam Wyden
ADW Capital Management, LLC
(646) 684-4086
adam@adwcapital.com

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