Special Committee of Clarus Retains Houlihan Lokey as Financial Advisor
October 05 2023 - 4:05PM
Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”),
a global company focused on the outdoor and consumer enthusiast
markets, today announced that 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 special committee of the
Company’s Board of Directors, which is comprised of independent
directors (the “Special Committee”), in accordance with its
previously disclosed powers to engage financial advisors, has
retained Houlihan Lokey as the Special Committee’s exclusive
financial advisor for the potential sale of the Precision Sport
segment of the Company. Houlihan Lokey will assist the Committee in
its evaluation of the transaction proposed by Mr. Kanders, and
will, at the Committee’s 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 any definitive
agreement will result from this process or that any transaction
will be consummated, whether with Mr. Kanders or any other party.
The Company and the Special Committee do not intend to comment
further unless and until they deem further disclosure is
appropriate.
About Clarus Corporation
Headquartered in Salt Lake City, Utah, Clarus
Corporation is a global leading designer, developer, manufacturer
and distributor of best-in-class outdoor equipment and lifestyle
products focused on the outdoor and consumer enthusiast markets.
Our mission is to identify, acquire and grow outdoor “super fan”
brands through our unique “innovate and accelerate” strategy. We
define a “super fan” brand as a brand that creates the world’s
pre-eminent, performance-defining product that the best-in-class
user cannot live without. Each of our brands has a long history of
continuous product innovation for core and everyday users alike.
The Company’s products are principally sold globally under the
Black Diamond®, Rhino-Rack®, MAXTRAX®, Sierra®, and Barnes® brand
names through outdoor specialty and online retailers, our own
websites, distributors, and original equipment manufacturers. Our
portfolio of iconic brands is well-positioned for sustainable,
long-term growth underpinned by powerful industry trends across the
outdoor and adventure sport end markets. For additional
information, please visit www.claruscorp.com or the brand
websites at www.blackdiamondequipment.com, www.rhinorack.com,
www.maxtrax.com.au, www.sierrabullets.com,
www.barnesbullets.com, www.pieps.com, or www.goclimbon.com.
Forward-Looking Statements
Please note that in this press release we may
use words such as “appears,” “anticipates,” “believes,” “plans,”
“expects,” “intends,” “future,” and similar expressions which
constitute forward-looking statements within the meaning of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements are made based on our
expectations and beliefs concerning future events impacting the
Company and therefore involve a number of risks and uncertainties.
We caution that forward-looking statements are not guarantees and
that actual results could differ materially from those expressed or
implied in the forward-looking statements. Potential risks and
uncertainties that could cause the actual results of operations or
financial condition of the Company to differ materially from those
expressed or implied by forward-looking statements in this release,
include, but are not limited to, the Company’s potential responses
to the Buyer’s Proposal, the exploration of strategic alternatives
by the Company, the potential impact of the Buyer’s Proposal on our
business, results of operations, and financial condition, as well
as those risks and uncertainties more fully described from time to
time in the Company's public reports filed with the Securities and
Exchange Commission, including under the section titled “Risk
Factors” in the Company's Annual Report on Form 10-K, and/or
Quarterly Reports on Form 10-Q, as well as in the Company’s Current
Reports on Form 8-K. All forward-looking statements included in
this press release are based upon information available to the
Company as of the date of this press release and speak only as of
the date hereof. We assume no obligation to update any
forward-looking statements to reflect events or circumstances after
the date of this press release.
Company Contacts:
Michael J. YatesChief Financial OfficerTel
1‐801-993‐1304mike.yates@claruscorp.com
Investor Relations
Contact:
Gateway Group, Inc. Cody SlachTel
1‐949‐574‐3860CLAR@gateway-grp.com
Clarus (NASDAQ:CLAR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Clarus (NASDAQ:CLAR)
Historical Stock Chart
From Jul 2023 to Jul 2024