The Black Diamond and Sierra Bullets parent will pay A$255 million ($198 mm) in cash and stock for Rhino-Rack Pty Ltd, an Australian maker of automotive roof racks, luggage systems, and accessories. Rhino-Rack generated A$21.5 million of adjusted EBITDA last year on revenues of A$115 million, implying an EBITDA multiple of just under 12x. The deal includes $150 million in cash and about 2.3 million CLAR shares, with an additional $8 million earnout if Rhino-Rack hits certain revenue targets. Clarus will expand its credit facility with J.P. Morgan to finance the ... Log in to view full article.