Compass Diversified Holdings has agreed to acquire PrimaLoft from Victor Capital Partners for an estimated $530 million. PrimaLoft joins a handful of other  outdoor companies in Compass Diversified’s portfolio, including BOA Technology and the hunting brand Velocity Outdoor.

“I am incredibly proud of PrimaLoft’s success with Victor Capital Partners and am thrilled to be partnering with [Compass Diversified], which shares our commitment to building a sustainable future through innovation,” said PrimaLoft CEO Mike Joyce in an official statement. “We believe PrimaLoft is well-positioned to continue its purpose to unleash the full potential of people, products, and planet.”

Following the close of the deal, slated for July, PrimaLoft will continue to be led by its current executive team, according to an official statement.

“PrimaLoft has all the attributes we look for in an acquisition and once closed, will add to [our] track record of acquiring industry-leading, innovative businesses with strong competitive advantages,” said Elias Sabo, CEO, Compass Diversified in a prepared company statement.

Sabo added that PrimaLoft was particularly attractive for its “significant intellectual property” and operations in a “large, growing addressable market” with a high free cash flow. As of this month, PrimaLoft contracts with more than 950 brand partners across the outdoor space, including Patagonia, Stio, La Sportiva, Helly Hansen, Marmot, and Canada Goose. The company also owns about 90 global patents.

PrimaLoft’s environmental focus also appears to be part of the attraction for Compass Diversified. According to the brand’s reporting, PrimaLoft has “diverted 614 million plastic bottles from landfills since 2015, pioneered biodegradable and carbon-negative fiber polymers, and reduced emissions by up to 70 percent for its proprietary line of insulations made with P.U.R.E. manufacturing technology.”