Clarus Corp. announced it has acquired Australian-based Maxtrax, a maker of Overlanding and off-road vehicle recovery and extraction tracks, for a combination of cash, stock and future consideration.
Clarus’ portfolio of products includes Black Diamond, Rhino-Rack, Sierra, and Barnes.
Maxtrax will continue to operate independently as a wholly-owned indirect subsidiary of Clarus and will be part of the company’s Overlanding reporting segment, which includes recently acquired Rhino-Rack.
Maxtrax’s net sales for the fiscal year ended June 30, 2021 were approximately AUD 21 million.
Founded in 2005 by Brad McCarthy, Maxtrax is considered the creator of the vehicle recovery board. Maxtrax has developed a product lineup consisting of vehicle recovery and extraction tracks, including its original Maxtrax MKII recovery track. All Maxtrax vehicle recovery tracks are manufactured in Australia using its proprietary, Australian-sourced, engineering-grade, and fiber-reinforced nylon. Maxtrax currently sells its products worldwide to distributors, retailers, government agencies, third-party e-commerce sites, and through its own website.
John Walbrecht, president of Clarus, said, “We are so pleased to partner with an amazing company and founder. Brad founded Maxtrax after recognizing the need for a system that makes vehicle recovery and extraction a safe, simple, one-person task that doesn’t require towing. The engineering-grade nylon construction of its recovery tracks, along with other patented features provides the critical insurance policy Overlanding adventurers demand. Following the closing of the transaction, we intend to expand Maxtrax’s product penetration across our markets. We look forward to welcoming the Maxtrax team to Clarus and continuing this ‘super fan’ brand’s legacy of allowing overland enthusiasts to take the easy way out.”
Brad McCarthy, founder of Maxtrax, said: “Two decades ago I got my 4WD bogged on a remote north Queensland beach. As the tide came in, it was almost washed away despite me having all the traditional recovery equipment on board and plenty of previous vehicle recovery experience. After this incident, I sought to create an easy-to-use vehicle recovery extraction device. After countless trials and four years of testing, we created the gold standard of high-quality vehicle recovery and extraction track, and named it Maxtrax, as in MAXimum TRAXion and Mac’s (McCarthy’s) Tracks. We are excited to have found a partner that shares our commitment to offering outdoor enthusiasts the best products for their adventures and has a track record of growing successful brands whilst retaining the Maxtrax brand DNA and ethos of only producing the absolute best products possible.”
Warren Kanders, executive chairman of Clarus, added, “This transaction exemplifies Clarus’ unique ability to identify founder-led, super fan brands that are immediately accretive to earnings. We are excited to put capital to work in a disciplined manner with a great brand following our recent equity offering. Following our acquisition of Rhino-Rack, Maxtrax represents our next important step in building our high-growth Overlanding platform as we see substantial opportunity for international brands to expand in the North American market.”
The terms of the transaction were not disclosed.
Photo courtesy Maxtrax