Clarus Corporation completed the sale of its Precision Sport segment, which is comprised of Sierra Bullets, LLC and Barnes Bullets-Mona, LLC, to Bullseye Acquisitions, LLC, an affiliate of JDH Capital Company.
The company sold its Precision Sport segment for approximately $175 million and used a portion of the proceeds to retire in full all of the company’s outstanding debt as of February 29, 2024. In connection with the repayment of the outstanding debt in full, the Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, was terminated.
Kane Kessler, P.C. acted as legal advisor to the company in the transaction. Richards, Layton & Finger, P.A. acted as legal advisor to a special committee of independent directors of the company. Houlihan Lokey acted as financial advisor to the Special Committee.
