Clarus Corp. reported in a regulatory filing that the business acquiring Sierra Bullets and Barnes Bullets is Bullseye Acquisitions, LLC, an affiliate of JDH Capital Company, the owner of Savage Arms and Pure Archery.
As previously reported, Clarus entered into a definitive purchase and sale agreement on December 29, 2023, to sell its Precision Sport segment (Sierra Bullets and Barnes Bullets) to a U.S.-based non-strategic buyer not affiliated with the company in an all-cash transaction for $175 million at closing. Clarus did not identify the non-strategic buyer.
The sale followed the move last September by Warren Kanders, Clarus’ largest shareholder and executive chairman, to submit a non-binding bid to acquire the Precision Sports segment for $160 million. Clarus formed a special committee of its Board to explore the sale and, in early October, retained Houlihan Lokey as a financial adviser.
The other brands under the Clarus Corp. umbrella include Black Diamond, Rhino-Rack, Maxtrax, and Tred Outdoors.
The transaction with Bullseye Acquisitions is expected to close in the first quarter of 2024, subject to customary closing conditions, including the receipt of regulatory approvals.
Houston-based JDH Capital acquired Pure Archery Group in July 2022 and Savage Arms in July 2019.
Other businesses owned by JDH Capital include Archrock, a provider of natural gas compression services and equipment; Follett Corp, the parent of Follett Higher Education; STX Beef Co., a beef packing company; and Baywater, a drilling and pipeline services provider.
