Black Diamond Parent Co Seals Agreement To Sell PIEPS, Appoints New leadership

Clarus, Black Diamond's parent company has announced an agreement to sell transciever supplier Pieps.

Following a comprehensive strategic review process launched in the fall of 2024, the Company entered into an agreement for the sale of PIEPS and assets of the JetForce avalanche pack intellectual property to a private investment firm for a total purchase price of €7.8 million including cash and debt. The agreement governing the sale has been executed by the parties and will become binding upon receipt by the notary in Austria of the original of the signed power of attorney of the purchaser, a copy of which has already been provided to the notary. This divestiture is aligned with Clarus’ prioritization of simplifying the business and rationalizing our product categories. "We expect the transaction to close before the end of the third quarter of 2025 subject to customary closing conditions and other regulatory matters, including foreign direct investment requirements."

The Austrian company Pieps GmbH is considered the global technology leader in the manufacture of avalanche transceivers ("avalanche PIEPS"). For more than 45 years, the company has developed, produced and distributed products for alpine safety in the snow.

The Company announced today that Tripp Wyckoff has been appointed as the new Managing Director of Clarus' Adventure segment, effective immediately. He will be replacing Mathew Hayward who will depart the Company, effective June 30, 2025, to pursue other professional opportunities. Mr. Wykoff joined the Company in July 2024 and has served as General Manager of the Americas, responsible for managing and growing each of the Adventure brands in the U.S., Canada and Latin America.

Mr. Wyckoff has over 20 years of deep operating experience in senior leadership roles, including as the President of Vertical Supply Group (“VSG”), a leading branded arborist equipment provider and distributor. He led VSG for over nine years, building the industry’s most-recognizable direct-to-consumer platform, while growing earnings by 5x, integrating 11 acquisitions, and stewarding the business through two private equity transactions. Prior to VSG, Mr. Wyckoff spent eight years at Thule serving as Vice President of Sales, Marketing and Service, where he grew the brand significantly in the U.S. and was primarily responsible for bringing to market global initiatives, building one-on-one customer relationships and integrating key acquisitions. While at Thule, he guided multi-channel, go-to-market strategy development and execution, and he co-developed and implemented a value-added sales training program for the global sales team.

Mr. Kanders commented, “We are excited to promote leadership from within and appoint Tripp Wyckoff to head the Adventure Segment moving forward. Since joining Clarus last year, Tripp has helped drive critical progress in the U.S. organization and demonstrated the business-building skills necessary for Adventure to reach its fullest potential. A highly experienced leader, he has a wealth of knowledge, operating discipline and expertise in taking brands of our size to the next level. He previously led a private equity-backed business through multiple growth cycles and exits, with deep industry experience through various leadership roles at Thule. With the full support of the board, senior management, and the Adventure team, I firmly believe Tripp is the right leader to execute the next phase of the Adventure growth strategy, as we continue to see an attractive long-term opportunity underpinned by a large and growing addressable market across multiple verticals. We thank Mat Hayward for his important contributions during his tenure, which included establishing an entirely new product development and product commercialization process that will continue to guide us, and wish him all the best in his future endeavors.”