Liberty Safe and Security Products, Inc. Announces Executive Promotions

PAYSON, Utah, May 8, 2012 /PRNewswire/ -- Liberty Safe and Security Products, Inc. ("Liberty" or the "Company") today announced the promotions of Kim Waddoups and Steve Allred to new executive positions, effective immediately.

Jeff Talley, Chief Executive Officer of Liberty, commented, "We are pleased to strengthen our executive management team with the promotions of Kim Waddoups and Steve Allred. Each has made numerous contributions over the years to the growth of our Company, demonstrating exceptional leadership and an unwavering commitment to Liberty along the way. By expanding the strategic roles of these two highly talented professionals, we expect to realize significant benefits as we remain focused on strengthening Liberty's leading industry brand for premium home and gun safes."

Mr. Waddoups has been named President of Liberty, where he will be responsible for achieving the Company's sales and marketing objectives. Mr. Waddoups joined Liberty in 2003 as Chief Financial Officer. During his nine-year tenure as CFO, he led numerous operational and financial reporting initiatives that increased the Company's profitability and enhanced capital efficiency. Previously, he served 14 years in various senior-level positions at Easton Technical Products, a sports equipment manufacturer and division of Jas D. Easton, Inc.

Mr. Allred was appointed Senior Vice President and Chief Operations Officer. Mr. Allred joined Liberty in 1994 as Operations Manager and was promoted to Vice President of Operations in 2007. In his new capacity, he will manage the development and implementation of advanced manufacturing processes aimed at increasing the Company's production capabilities. Prior to Liberty, Mr. Allred worked for eight years as the Manager of Operations and Programs for Teleflex Defense Systems, a division of Teleflex, Inc.

Mr. Waddoups stated, "It is an honor to work with a great management and ownership team that has maintained a steadfast approach to financially growing our Company.  I am also proud to be a part of an incredible workforce dedicated to manufacturing high-quality products right here in the USA.  This is an exciting time at Liberty.  We continue to execute our strategy aimed at supporting and expanding our diverse group of accounts, and remain committed to delivering a valuable, comprehensive solution that surpasses our customers' expectations."

Mr. Allred commented, "Liberty's industry leadership and attractive growth prospects provide for a bright future. With the advanced manufacturing processes we continue to implement combined with the addition of a new product line, we expect to significantly increase our current output in order to meet the robust demand for our premium products. It is great to be part of a knowledgeable and diligent staff that continues to meet and exceed our objectives, enabling Liberty to support job growth and enhance its reputation for operational excellence."

About Liberty Safe and Security Products, Inc.

Based in Payson, Utah and founded in 1988, Liberty is the premier designer, manufacturer and marketer of home and gun safes in North America. From its over 200,000 square foot manufacturing facility, the Company produces a wide range of home and gun safe models in a broad assortment of sizes, features and styles. Products are marketed under the Liberty brand, as well as a portfolio of licensed and private label brands, including Remington, Cabela's and John Deere.  The Company's products are the market share leader and are sold in various sporting goods, farm and fleet, and home improvement retailers. Liberty also has the largest independent dealer network in the industry. For more information, please visit the Company's website at www.libertysafe.com.

Liberty is a subsidiary of Compass Diversified Holdings (NYSE: CODI), an owner of leading middle market businesses. For more information on CODI, please visit www.compassdiversifiedholdings.com.

This press release may contain certain forward-looking statements, including statements with regard to the future performance of the Company. Words such as "believes," "expects," "projects," 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. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and some of these factors are enumerated in the risk factor discussion in the Form 10-K filed by CODI with the Securities and Exchange Commission for the year ended December 31, 2011 and other filings with the Securities and Exchange Commission. CODI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Liberty Safe and Security Products, Inc.