Clarus Corporation has completed the sale of snow safety gear company PIEPS and its JetForce avalanche pack intellectual property assets to a private investment firm for $9.1 million.
“The divestiture of PIEPS reflects our continued focus on simplifying the business and rationalizing our product categories,” said Clarus Executive Chairman Warren B. Kanders in a statement. “Following a comprehensive strategic review process, this transaction further strengthens our balance sheet and supports our ability to capitalize on clear long-term growth opportunities.”
The parent company of Black Diamond has restructured and worked to streamline its business over the past year in an effort to return to profitability.
Several PIEPS products and other avalanche safety equipment distributed by Black Diamond have been subject to recalls in recent years, including:
- PIEPS Pro IPS Avalanche Transceiver (November 2024).
- Recon LT Avalanche Transceiver (March 2023).
- PIEPS and Black Diamond branded avalanche transceivers (July 2022).
- Pieps DSP Recall (April 2021).
Black Diamond and its parent company Clarus Corporation warned investors in January that they face legal, reputational, and financial risks after receiving subpoenas last month as part of an investigation by the U.S. Attorney’s Office for the District of Utah.
The investigation is related to the U.S. Consumer Products Safety Commission’s (CPSC) conclusion that Clarus did not respond quickly enough to a problem with avalanche transmitters distributed by Black Diamond, according to documents filed by Clarus with the SEC on Friday.
Clarus and Black Diamond dispute the findings and the company is cooperating with the investigation.
