Special Committee of Clarus Retains Houlihan Lokey as Financial Advisor

SALT LAKE CITY, Oct. 05, 2023 (GLOBE NEWSWIRE) -- 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. Yates
Chief Financial Officer
Tel 1‐801-993‐1304
mike.yates@claruscorp.com

Investor Relations Contact:

Gateway Group, Inc.
Cody Slach
Tel 1‐949‐574‐3860
CLAR@gateway-grp.com