Utah’s Black Diamond Equipment sold for $90 million
By Mike Gorrell, Salt Lake Tribune, USA
Chouinard started BD
Peter Metcalf knew the business model he followed for two decades in building Black Diamond Equipment Ltd. from scratch into a $100 mil- lion-a-year company was insufficient to carry the Salt Lake County-based firm far into the future.
But now Metcalf believes he has found a partner with the financial resources to grow in a global economy. Clarus Corp., a publicly traded Connecticut company with no operations but lots of money to invest and $200 million worth of tax-loss credits, announced Monday that it is buying Black Diamond for $90 million.
A newly created company will continue to carry the Black Diamond name and retain Metcalf as its president and CEO. But it also will offer a broader line of respected outdoor products. As part of the deal, Clarus purchased Sacramento-based Gregory Mountain Products Inc. for $45 million and will.. Read the rest of this article
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