Clarus Corporation, a publicly traded company in the U.S., is buying two outdoor equipment companies. It will pay $90 million in cash for Black Diamond Equipment of Salt Lake City, Utah, which makes equipment for rock climbers, ice climbers, alpinists and freeride skiers. In addition, it will pay $45 million, about half in Clarus common stock and half with a seven-year, 5 percent subordinated note, for Gregory Mountain Products, which makes technical backpacking and other mountaineering products. Both purchase prices are subject to adjustments. Further acquisitions in the outdoor sector are not excluded. Clarus is partly owned by the chairman and the vice chairman of Gregory, William B. Kanders and Robert R. Schiller. Peter Metcalf, co-founder, president and chief executive of Black Diamond, will be named president, CEO and a director of Clarus, which is expected to be renamed as Black Diamond soon. It will be controlled by Metcalf and other employees. Black Diamond was originally a spin-off of Yvon Chouinard, founder and owner of Patagonia. He created Chouinard Equipment, which became Black Diamond in 1989 after a bankruptcy. The company was then acquired by Metcalf, some managers and other individual investors. There should be no immediate changes in the way the Black Diamond and Gregory brands run their businesses in Europe (more in The Outdoor Industry Compass).