Business
Clarus Acquires MAXTRAX, the Market Leader in Vehicle Recovery and Extraction Track for the Overland and Off-Road Market
- Acquisition Accelerates Clarus’ Vision to Scale its Overlanding and Vehicle Accessory Category - - Acquisition Expected to be Immediately Accretive - SALT
About this update from Clarus Corporation
[{"type":"text","content":"- Acquisition Accelerates Clarus’ Vision to Scale its Overlanding and Vehicle Accessory Category - - Acquisition Expected to be Immediately Accretive - SALT LAKE CITY, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a global company focused on the outdoor and consumer enthusiast markets, today announced it has acquired Australian-based MAXTRAX® (“MAXTRAX”), the market leader in producing the best overlanding and off-road vehicle recovery and extraction tracks, for a combination of cash, stock and future consideration. MAXTRAX will continue to operate independently as a wholly-owned indirect subsidiary of Clarus and will be part of the Company’s Overlanding reporting segment, which includes recently acquired Rhino-Rack. MAXTRAX’s net sales for the fiscal year ended June 30, 2021 were approximately AUD 21 million. Founded in 2005 by Brad McCarthy, MAXTRAX is considered the creator of the vehicle recovery board. MAXTRAX has developed a product lineup consisting of high-quality vehicle recovery and extraction tracks, including its original MAXTRAX MKII recovery track. All MAXTRAX vehicle recovery tracks are manufactured in Australia using its proprietary, Australian-sourced, engineering-grade and fiber-reinforced nylon. MAXTRAX currently sells its products around the world to distributors, retailers, government agencies, third-party e-commerce sites and through its own website. John Walbrecht, President of Clarus, said, “We are so pleased to partner with an amazing company and founder. Brad founded MAXTRAX after recognizing the need for a system that makes vehicle recovery and extraction a safe, simple, one-person task that doesn’t require towing. The engineering-grade nylon construction of its recovery tracks, along with other patented features provides the critical insurance policy overlanding adventurers demand. Following the closing of the transaction, we intend to expand MAXTRAX’s product penetration across our markets. We look forward to welcoming the MAXTRAX team to Clarus and continuing this ‘super fan’ brand’s legacy of allowing overland enthusiasts to take the easy way out.” Brad McCarthy, Founder of MAXTRAX, said: “Two decades ago I got my 4WD bogged on a remote north Queensland beach. As the tide came in, it was almost washed away despite me having all the traditional ...