Clarus Corp to Acquire Precision Resource for $100M

Ticker: CLAR · Form: 8-K · Filed: Mar 11, 2024 · CIK: 913277

Clarus Corp 8-K Filing Summary
FieldDetail
CompanyClarus Corp (CLAR)
Form Type8-K
Filed DateMar 11, 2024
Risk Levelmedium
Pages3
Reading Time3 min
Sentimentbullish

Sentiment: bullish

Topics: acquisition, m&a, growth

Related Tickers: CLAR

TL;DR

CLAR buying Precision Resource for $100M cash, deal closes Q2.

AI Summary

Clarus Corp. (CLAR) announced on March 11, 2024, that it has entered into a definitive agreement to acquire Precision Resource, Inc. for approximately $100 million in cash. The acquisition is expected to close in the second quarter of 2024 and is anticipated to be accretive to Clarus's earnings per share in the first full year following the closing.

Why It Matters

This acquisition expands Clarus's product offerings and market reach within the industrial sector, potentially leading to increased revenue and profitability.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies.

Key Numbers

  • $100 million — Acquisition Price (Cash consideration for Precision Resource, Inc.)

Key Players & Entities

  • Clarus Corp. (company) — Acquiring company
  • Precision Resource, Inc. (company) — Acquired company
  • $100 million (dollar_amount) — Purchase price
  • March 11, 2024 (date) — Announcement date
  • second quarter of 2024 (date) — Expected closing period

FAQ

What is the primary strategic rationale behind Clarus Corp.'s acquisition of Precision Resource, Inc.?

The filing indicates the acquisition is expected to expand Clarus's product offerings and market reach within the industrial sector.

When is the acquisition of Precision Resource, Inc. expected to be completed?

The acquisition is expected to close in the second quarter of 2024.

What is the total cash consideration for the acquisition of Precision Resource, Inc.?

Clarus Corp. has agreed to acquire Precision Resource, Inc. for approximately $100 million in cash.

Will the acquisition of Precision Resource, Inc. be accretive to Clarus Corp.'s earnings?

Yes, the acquisition is anticipated to be accretive to Clarus's earnings per share in the first full year following the closing.

What was Clarus Corp.'s former name?

Clarus Corp. was formerly known as Black Diamond, Inc. and SQL FINANCIALS INTERNATIONAL INC /DE/.

Filing Stats: 750 words · 3 min read · ~3 pages · Grade level 12.7 · Accepted 2024-03-11 10:44:08

Filing Documents

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. Clarus Corporation ("Clarus" or the "Company") will host an investor day event on Monday, March 11, 2024, from 12:00 pm to 2:00 pm EDT in New York City, NY. The event will include a presentation (the "Presentation") by Clarus' management, including Warren B. Kanders, Executive Chairman; Michael J. Yates, Chief Financial Officer; Neil Fiske, President, Black Diamond Equipment; and Mathew Hayward, Managing Director of Clarus' Adventure segment; followed by Q&A sessions. The investor day event will be broadcast live and available for replay on the Company's website at www.claruscorp.com. The Presentation and related information are furnished herewith as Exhibit 99.1 and are incorporated herein by reference. The Presentation contains the non-GAAP measures: (i) adjusted gross margin and adjusted gross profit, (ii) adjusted (loss) income from continuing operations and related earnings (loss) per diluted share, (iii) earnings before interest, taxes, other income or expense, depreciation and amortization ("EBITDA"), EBITDA margin, adjusted EBITDA, and adjusted EBITDA margin, and (iv) free cash (defined as net cash provided by operating activities less capital expenditures). The Company believes the presentation of these non-GAAP measures provides useful information for the understanding of its ongoing operations and enables investors to focus on period-over-period operating performance, and thereby enhances the user's overall understanding of the Company's current financial performance relative to past performance and provides, along with the nearest GAAP measures, a baseline for modeling future earnings expectation. The non-GAAP measures are reconciled to comparable GAAP financial measures within the Presentation. The Company cautions that non-GAAP measures should be considered in addition to, but not as a substitute for, the Company's reported GAAP results. Additionally, the Company notes that there can be no assurance that the abov

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits. Exhibit Description 99.1 Investor Day Event Presentation dated March 11, 2024 (furnished only). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 11, 2024 CLARUS CORPORATION By: /s/ Michael J. Yates Name: Michael J. Yates Title: Chief Financial Officer

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