Salt Lake City-based Clarus Corp., a global holding company focused on the outdoor and consumer industries, has acquired privately held S.K.B. Corp. for $85 million in cash and 1,153,846 shares of Clarus common stock. Based in Orange, California, S.K.B. will continue to operate independently as a wholly owned subsidiary of Clarus.
S.K.B. was founded in 1977 by Steve Kottman and Dave Sanderson and is focused on the design and manufacture of molded polymer transport cases engineered to provide protection for a diverse range of equipment. S.K.B.’s products, known as SKB Cases, are utilized across industries, including consumer, sports, electronics, healthcare, music, photography and industrials. In 2019, S.K.B. had $53 million in sales.
“The addition of S.K.B. will extend the company’s ‘innovate and accelerate’ brand strategy, focused on enhancing the go-to-market process across a more diversified user portfolio,” Clarus said in a release. “Under Clarus, S.K.B. will have enhanced scale and resources, as well as access to Clarus’ robust relationships and channels to market. The acquisition is expected to further strengthen Clarus’ leadership in the outdoor and consumer industries, while providing access to new channels, including music and industrial end markets.”
“We regularly evaluate potential acquisitions to add to and complement our portfolio, and S.K.B. is a perfect match,” said John Walbrecht, president of Clarus.”We believe that the acquisition of S.K.B. presents a compelling opportunity to extend our brand formula over a broader base and advance our strategy of growing both organically and through accretive, value-enhancing transactions. We are excited to welcome the S.K.B. team to the Clarus family of brands.”
“When we founded S.K.B. in 1977, we set out to create world-class transport case products for musicians and entertainers. After four decades, we have developed a deep heritage and a loyal user base, which we have expanded into a variety of other industries,” Kottman and Sanderson said in a joint statement. “Together with Clarus, S.K.B. is poised for a new phase of growth. We are excited to partner with a company that shares our commitment to innovation and has a proven track record of growing successful brands across categories, channels and regions. We know that Clarus will continue S.K.B.’s legacy of crafting products with the superior design and engineering that our customers have come to expect and trust.”