Marucci Sports, the maker of baseball bats and gloves, is reportedly being acquired by Fox Factory, based in Duluth, GA, a company best known for its Fox Racing Shox brand of off-road racing suspension components.

Former owner CODI acquired Baton Rouge, LA-based Marucci Sports in 2020 for a purchase price of $200 million. CODI has a past relationship with Fox Factory, acquiring the business in 2008 and taking it public in 2013.

Under the terms of the agreement, Marucci will be sold to Fox Factory for an enterprise value of $572 million, subject to certain working capital and other adjustments.

In a separate statement, Fox Factory said the acquisition of Marucci “combines two high performance cultures, industry-leading brands and product portfolios that expand Fox’s enthusiast offering.”

“We are very proud of the growth Marucci has seen under our ownership and feel fortunate to have been able to partner with the Marucci management team,” says Elias Sabo, CEO of Compass Diversified. “We acquired the business in April 2020 based on our confidence in Marucci’s brand and management team. This was at a time when few transactions were being completed due to the pandemic, yet our flexible capital structure allowed us to execute in times of uncertainty and generate value for our shareholders.

“Since then, the Marucci team has acted decisively, growing its core business and gaining share in new markets like fielding gloves and softball,” he adds. “Additionally, we expanded the Marucci product portfolio through the acquisitions of Lizard Skins and Baum Bat. Thank you to Kurt and the entire Marucci team for their contributions over the last several years, and we wish them nothing but continued success.”

The closing of this transaction is expected to occur this month.