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This past spring, we shared the intention of Black Diamond & Gregory to merge and go public. The new company, officially renamed "Black Diamond Equipment, Inc.," is now fully merged (at least on paper) and publicly trading under the NYSE stock ticker BDE. Although glad for BD & Gregory to join forces and assume a more secure capital infrastructure, this blog was curious as to the road ahead and how this merger would inevitably change the face of the involved companies. The latest update on the subject shows that Gregory is leaving its California roots for office space within the Black Diamond compound in Salt Lake City, UT. Although a few key staff are being retained, it looks like by-and-large, most are not making the move...
Black Diamond Equipment to Bring Gregory to Salt Lake City
Source: Sports One Source
Gregory Mountain Products will relocate its staff and headquarters to Salt Lake City, but remain a largely autonomous brand under an integration plan unveiled Tuesday by its acquirer, Black Diamond Equipment Inc.
“We are investing in the growth of the Gregory Company by integrating its team with the Black Diamond operational infrastructure in Salt Lake City," said Black Diamond CEO Peter Metcalf. "This will require relocation of key staff from California to Utah and a major remodel of a separate physical space on the BD campus to allow Gregory to remain an independent and autonomous brand while benefitting from our existing operational platform.”
In May 2010, Black Diamond Equipment Ltd. went public in a reverse merger with Clarus Corporation while simultaneously merging operations with Gregory. Since then, Clarus Corp. has changed its name to Black Diamond Equipment, Inc, (NASDAQ: BDE, formerly CLRS) and elected Peter Metcalf CEO and President. Concurrent to the Gregory integration, the offices of Clarus in Stamford, CT are relocating to the Black Diamond campus in Salt Lake City.
“We entered the Gregory integration exercise with an open mind, with the goal being to make smart business decisions that will give Gregory the best environment to thrive and grow in the future," said Metcalf. "The plan is to maintain the Calexico, Calif. production facility. All other aspects of the operation will move to Utah.”
Gray Hudkins, Gregory acting CEO states, “The re-location of Gregory brings forth immediate change and the growing pains associated with it. Yet, the longer-term view is one of investment, greater efficiency and further realizing the vision of the Gregory brand. We are excited about the move to Salt Lake City yet this enthusiasm is tempered by our deep appreciation of the work achieved by the current team in Sacramento.”