|ESPN.com: Freeskiing||[Print without images]|
|These two companies will now become one.|
Black Diamond Equipment announced on Thursday that it will be purchasing the Swedish helmet and goggle company POC.
According to a release, Black Diamond will purchase POC for $43.5 million. The sale is expected to close this month.
"POC and Black Diamond were both founded as solutions-based companies, focused on providing unmatched personal protection for active outdoor athletes," said Peter Metcalf, president and CEO of Black Diamond. "We believe POC is one of the most innovative, fastest-growing and hottest brands in action sports protective gear today and a strong strategic addition to the Black Diamond platform."
When Black Diamond was a privately held company, they purchased Ascension Climbing Skins and Bibler Tents. Since going public in May 2010, they also purchased Gregory Mountain Products. POC will be the company's fourth major acquisition.
POC, which launched in 2004 in Stockholm, Sweden, is known for their protective gear for skiers and snowboarders, including body amour, goggles, sunglasses, and gloves. Black Diamond, based in Salt Lake City, Utah, makes climbing and ski gear, including skis, boots, bindings, gloves, harnesses, tents, and more.
"POC's product line developed for the alpine and free-ride ski, mountain and road bike markets -- including their paradigm-changing innovations in helmet design -- provides us an array of products that expand the breadth of our multi-seasonal offerings," said Metcalf.
POC's total reported revenues for the last fiscal year were around $22.5 million, an increase of 35 percent from the previous year.
"Given POC's mission to save lives and reduce the consequences of accidents for gravity sports athletes, partnering with a highly capable and energetic company like Black Diamond greatly enhances our ability to better serve our worldwide community of users," said POC founder and CEO Stefan Ytterborn. "We are excited to join forces as one company, bringing together extraordinary talent and commitment to excellence, along with our deeply shared values and purpose."