Black Diamond Inc. announced plans to change its name to Clarus Corporation effective August 14, 2017. Clarus was the holding company name prior to the initiation of a strategy in 2010 to capitalize on the growing active outdoor market, and the return to Clarus better reflects the recent return to a diversified holding company strategy, say the company.
The new strategy seeks to acquire high-quality, durable, cash flow-producing assets that are potentially unrelated to the outdoor equipment industry in order to diversify its business. Currently, Black Diamond Equipment, Ltd. and PIEPS GmbH are its only operating subsidiaries.
In connection with this name change, the Company’s stock ticker symbol will change from “BDE” to “CLAR” on the NASDAQ stock exchange. Trading under the new stock ticker symbol will commence on August 14, 2017, when company’s new website moves to www.claruscorp.com.
“The redeployment of our capital remains one of our highest priorities and we are very active in this strategy,” said Warren B. Kanders, executive chairman of Black Diamond, Inc. “The name change better reflects our strategy and our intent to create a more diversified business.”