A special Committee of the Board of Directors of Clarus Corp., the parent company of Black Diamond, MaxTrax, Rhino-Rack, Sierra Bullets, and Barnes Bullets, retained Houlihan Lokey as its exclusive financial advisor for the potential sale of its Precision Sport segment, namely its ammo business represented by Sierra and Barnes.
The move comes in response to the previously disclosed non-binding indication of interest received from Warren B. Kanders, the company’s executive chairman, to acquire the company’s Precision Sport segment.
The Committee, comprised of independent directors in accordance with its previously disclosed powers to engage financial advisors, hired Houlihan Lokey to assist in its evaluation of the transaction proposed by Kanders and will, at its request, assist in the solicitation of parties that have expressed an interest in, and other parties that may be interested in, acquiring the Precision Sport segment through a process intended to maximize the value to Clarus’ shareholders.
There can be no assurance that a definitive agreement will result from the process or that a transaction will be consummated, whether with Kanders or another party.
The company and the Committee will not comment further unless and until they deem further disclosure appropriate.
Photo courtesy Sierra Bullets
