August 22nd, 2017

Sierra Bullets Sold to Clarus Corporation

Sierra Bullets Acquired Sold Clarus Corp. Black Diamond

Sierra Bullets has been acquired by Clarus Corporation (NASDAQ: CLAR) for the sum of $79,000,000, “subject to a post-closing working capital adjustment”. Sierra is one of the world’s leading producers of bullets for hunters, sportsmen, and target shooters. With revenues topping $30,000,000 per year, Sierra has long been a major force in the firearms world. Clarus, formerly Black Diamond Inc., is a Utah-based holding company which “seeks opportunities to acquire and grow businesses that can generate attractive shareholder returns”. Clarus also owns Black Diamond Equipment, Ltd., maker of outdoor equipment/clothing for the climbing, skiing and mountain sports markets.

Read Official Press Release » | Forum Discussion of Sierra Sale » reports: “The transaction is expected to be immediately accretive to Clarus’ earnings per share. For the unaudited 12 months ended June 30, 2017, Sierra’s total revenues were approximately $32 million with EBITDA of approximately $12.5 million, representing a purchase price multiple of approximately 6.3x EBITDA. Sierra has a strong cash flow profile, generating free cash flow conversion of approximately 95% with limited ongoing capex requirements.”

“The team at Sierra has continued building on a 70-year legacy dedicated to the highest-level of precision in design, world-class manufacturing and quality control,” said Warren B. Kanders, executive chairman of Clarus. “These attributes have cultivated a diverse customer base of enthusiasts and industry OEMs that drive high recurring revenue and strong cash flow, which we expect to maximize through the utilization of our net operating loss carry forwards.”

Sierra’s President Pat Daly commented: “Our team takes great pride in developing and manufacturing the most precise and accurate bullets in the world. This is supported by our deep institutional knowledge of highly-specialized manufacturing processes that have produced leading products and created a significant competitive advantage. As the only pure-play bullet brand, it was important for us to partner with a team that shares our values and commitment to excellence, and we are excited to join the Clarus family. I look forward to staying on to continue driving our brand growth.” All senior management are expected to remain with Sierra under Clarus’ ownership.

Sierra Bullets

About Sierra Bullets
Founded in 1947 in California, Sierra Bullets is an American manufacturer of bullets. Based in Sedalia, Missouri since 1990, Sierra manufactures a wide range of bullets for both rifles and pistols. Sierra’s product line, recognized by iconic “green box” packaging, includes popular brands such as MatchKing, GameKing, and BlitzKing. Sierra bullets are used for precision target shooting, hunting, and defense purposes. For more information, visit

News Tip from Boyd Allen. We welcome reader submissions.
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January 6th, 2013

New Precision Shooting Grid Target from Switzerland

100 Zero Swiss Offset TargetForum member Florian from Switzerland ( has created an interesting new grid target for precision practice work.

The concept behind the target is to allow a marksman to shoot a string of shots (with the same hold) without obliterating his aiming point. Florian’s Swiss Offset Target does this by separating the point of aim from point of impact (POI). On this target, POI is 10 cm (approx. 4″) over to the left.

We’ve found that Florian’s Offset Target is also very good for precise long-range shooting. At 600 yards and beyond, the big black diamond (12 cm or 4.72″ from point to point) provides a nice big aiming center. You can align your vertical and horizontal crosshairs to intersect the points of the diamonds (with intersection of crosshairs in white center of black diamond). That gives you a very precise sight picture. Then you can see your bullet holes appear “in the white” to the left side of the target. At long range it’s much easier to see holes “in the white”. And the grid lines let you gauge group size from afar.

100 Zero Swiss Offset Target

CLICK HERE to download Swiss Offset Target as a PDF file
CLICK HERE to Read Florian’s Instructions

More Uses for the Swiss Offset Grid Target
We’ve also found that this target lets you do a “quick and easy” Box Test with your scope. The target is designed as a precise grid. Starting at the lower left corner, you can click up X clicks, then right Y clicks, then down X clicks, then back left Y clicks, to see how your scope tracks. Also, since Florian’s target is set up with 1 CM grid boxes, this target is ideal for testing the true click values for metric-based scopes. Thanks to Florian for developing this Swiss Offset Grid Target. You may find new uses for it that we haven’t thought about yet!

How to use the Swiss Offset Target:

1. Print the target as a PDF file. Check if the size is correct by measuring the space between the two little circles’ centers. This should be 10cm (4″). (One square = 1cm).
2. Place the target horizontally at 100 meters for metric scope or 100 yards for inches and MOA scope. (We suggest using a small contractor’s level to ensure the target is mounted straight)
3. With your already-zeroed rifle, put in the amount of clicks needed to shoot 4 inches left at 100 yards (or 10cm on the left at 100 meters). Write down the amount of clicks it takes to move the point of impact the correct amount.
4. Aim at the circle inside the black diamond and shoot. (Your group should cover the small black circle at left (between the two gray columns).
5. Adjust your scope if needed.
6. Confirm your accuracy and click values by clicking back right and shooting (one time) at the virgin circle in the middle of the diamond.

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