Utah’s Black Diamond Equipment sold for $90 million
By Mike Gorrell, Salt Lake Tribune, USA
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