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Black Diamond Merges With Gregory Mountain Products | UNITED STATES, UTAH | 05/10/2010, by MaxG
With core outdoor companys, like cloudveil, removing themselves from their humble beginnings we can only hope that emerging small town heros like Voile, Flylow, and Trew step up to fill the void. Not that going public is a bad thing, but I think for most it will leave us searching for a new brands to stand behind. I mean I'm sure jonny-awesome-share-holder for New York City has some great advise on how to run Black Diamond......
This just fresh off the press:
After celebrating its 20th Anniversary, Black Diamond Equipment Ltd. enters a transaction with Clarus Corporation to take the company public and simultaneously merge the operations of Gregory Mountain Products into a new operational platform.
"In my thirty years at the helm of Black Diamond, we have had an endless series of opportunities that we have capitalized on by moving confidently and boldly in the pursuit of our goals," explains Peter Metcalf CEO of Black Diamond. "In 2009/10, BD has managed double digit sales growth globally and is in excellent financial health. As we looked to the future, it was clear there remained only two primary challenges in our multi-decade pursuit of building a true built to last and autonomous company. They were the right, long-term capital structure as well a strong Board backstop for the CEO. So began a year long journey where we researched in a truly creative manner the myriad of possibilities that might achieve those two long term goals. The deal we are announcing today is as innovative and appropriate a structure as that created 21 years ago. It will insure that the golden years of Black Diamond are not behind us but clearly ahead."
The structure of the agreement will have Clarus Corporation, a well financed, public company with no operations, concurrently acquire Black Diamond and Gregory Mountain Products and take both companies public naming the company Black Diamond Equipment. Warren Kanders will continue as Clarus Executive Chairman, Rob Schiller, Vice Chairman of Gregory will join the board as Executive Vice Chairman, Peter Metcalf, the Founder, President and CEO of Black Diamond, will become President and Chief Executive Officer and also serve as a Director of the Company. Robert Peay, Chief Financial Officer of Black Diamond, will become Chief Financial Officer of the Company.
Metcalf continues, "Speaking with Wayne Gregory and his team, we are excited by the complementary nature of our brands as well as the promise of the new business platform that will strengthen our company while keeping the brands discrete. We have each built very special, global companies and I would like to take this moment to sincerely thank all of the employees, friends, customers, vendors, and consumers that have helped us along the way. Over the last 30 years our mantra has been to build a beautiful and respected built to last company. With this deal, the last pieces of that global foundation are being put into place. We are excited for the bright future that lies ahead for the Black Diamond and Gregory brands."
That's Our Opinion. What's Yours?
bj wrote on 05/11/10 at 07:49:32 am pst:
i really hope this isn't the end....
tonybird wrote on 05/16/10 at 08:13:33 am pst:
i thought BD was employee-owned. every MF company on the planet ought to be employee-owned. FTMFSMF. if you want to know what that means, email me.
powderjunky wrote on 05/16/10 at 9:49:43 pm pst:
not any more :(
tonybird wrote on 05/19/10 at 06:26:26 am pst:
i wonder if it was product testing on the new avabong that did them in.
who the hell is gregory, anyway? i had the nicest fellow at BD help me this winter when i broke one of my 10+ year old flicklock poles. we figured out i could put new carbon bottoms on them--"frankensteining" he called it.
