SALT LAKE CITY - Clarus (NASDAQ:CLAR) Corporation (NASDAQ: CLAR), a company specializing in outdoor and consumer enthusiast products, has finalized the sale of its Precision Sport segment to Bullseye Acquisitions, LLC, a subsidiary of JDH Capital Company. The transaction, completed for approximately $175 million, allowed Clarus to retire all outstanding debt as of today. The sale included Sierra Bullets, L.L.C. and Barnes Bullets – Mona, LLC.
The debt retirement followed the termination of the Amended and Restated Credit Agreement with JPMorgan Chase (NYSE:JPM) Bank, N.A. Clarus has previously announced a conference call scheduled for Thursday, March 7, 2024, to discuss the financial results for the fourth quarter and entire year of 2023. Additionally, an investor day is planned for Monday, March 11 in New York City, where management will provide further insights into the company's strategic initiatives and growth opportunities.
The investor day will feature presentations from Warren Kanders, Executive Chairman; Mike Yates, Chief Financial Officer; Neil Fiske, President of Black Diamond Equipment; and Mathew Hayward, Managing Director of Clarus' Adventure segment. The event will include Q&A sessions and is open to institutional investors and analysts. Virtual attendance options and a replay of the event will be made available.
Clarus Corporation, headquartered in Salt Lake City, Utah, is known for designing, developing, manufacturing, and distributing outdoor equipment and lifestyle products. The company's portfolio includes brands such as Black Diamond®, Rhino-Rack®, MAXTRAX®, TRED Outdoors®, and others, which are sold globally through various channels.
The legal advisor for Clarus in this transaction was Kane Kessler, P.C., while Richards, Layton & Finger, P.A. advised a special committee of independent directors, and Houlihan Lokey (NYSE:HLI) served as financial advisor.
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