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Clarus Completes Rhino-Rack Acquisition | SGB Media Online


Clarus Corp. completed the acquisition of Australia-based Rhino-Rack Pty Ltd. The company also amended and upsized its existing senior credit line.
Clarus’ portfolio of brands also includes Black Diamond, Sierra, Barnes, PIEPS and SKINourishment.
Rhino-Rack will continue to operate independently as a wholly-owned subsidiary of Clarus and will constitute a third reporting segment.
Clarus acquired Rhino-Rack for $AUD 194 million (approximately $USD 145 million) in cash, subject to a post-closing working capital adjustment, and approximately 2.3 million shares of Clarus common stock for a total aggregate purchase price of $AUD 273 million or approximately $USD 207 million based upon the AUD/USD exchange rate and market value of the stock price at closing. In addition, an earn-out of $AUD 10 million (approximately $USD 8 million) in cash is payable on July 31, 2022, contingent on the achievement of a specified revenue target. With the closing, Richard Cropley, Rhino-Rack ....

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