Black Diamond buys Pieps

Black Diamond Inc. has agreed to buy Pieps, an Austrian brand of alpine safety equipment, at a price of €8.0 million in cash. The deal also calls for the American company to assume debts worth €2.1 million, and to make extra payments of up to €2.3 million if Pieps reaches specific sales targets by the end of March 2015. Pieps, which specializes in avalanche beacons and snow safety products, reported a turnover of about €6.0 million for the fiscal year until the end March 2012. The buy is part of Black Diamond Inc.’s acquisition strategy: It already owns the Black Diamond and Gregory Mountain Equipment brands, and purchased Poc Sweden last June. The seller is the Seidel Group, a family-owned group of companies focused on electronics manufacturing. The transaction is expected to be closed next Monday.

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