Clarus Expands Outdoor Reach with RockyMounts Acquisition
Deal News | Dec 09, 2024 | Globenewswire
On December 9, 2024, Clarus Corporation, a Salt Lake City-based global leader in the outdoor equipment market, announced that its brand, Rhino-Rack, has acquired key assets of RockyMounts. Boulder-based RockyMounts has specialized in bicycle transport products since 1993 and has developed a loyal customer base through its innovative and durable rack solutions. The acquisition aligns with Clarus's strategic objective to enhance its Adventure segment, with RockyMounts set to expand market reach and add new product categories. The deal was completed without disclosing terms, facilitated using existing cash. The acquisition aims to scale Clarus's presence in the U.S. and Australia, while continuing collaboration with RockyMounts's founder Bobby Noyes, who will remain part of the innovation team. While the corporate aim is to drive further growth and market penetration, Clarus acknowledges the inherent risks in forward-looking statements.
Sectors
- Outdoor & Recreational Equipment
- Automotive Accessories
Geography
- United States – Both Clarus Corporation and RockyMounts are based in the U.S., with operations targeted at the North American market.
- Australia – Rhino-Rack, which acquired RockyMounts, is expected to leverage the acquisition to expand into the Australian market.
Industry
- Outdoor & Recreational Equipment – Clarus Corporation and its brands, including Rhino-Rack, operate within the outdoor and recreational equipment industry, focusing on products for outdoor enthusiasts.
- Automotive Accessories – RockyMounts, specializes in designing and manufacturing automotive accessories, specifically bicycle transport solutions, making it an integral part of the automotive accessories market.
Financials
- Not Disclosed – The terms of the RockyMounts acquisition were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Clarus Corporation | Parent Company | Company | Clarus Corporation, based in Salt Lake City, is a global company focusing on outdoor enthusiast markets, owning brands like Rhino-Rack. |
| Rhino-Rack | Buyer | Company | A leading brand under Clarus Corporation, known for its adventure segment products. |
| RockyMounts | Target | Company | A Colorado-based brand specializing in bicycle transport products, founded by Bobby Noyes. |
| Bobby Noyes | Founder | Person | The founder of RockyMounts who will remain involved with the innovation team post-acquisition. |