Who Owns Black Diamond Equipment?

Black Diamond Equipment's history is inseparable from the history of climbing in America. The company's origins trace to the late 1950s, when climber Yvon Chouinard began hand-forging pitons and selling them from the trunk of his car in Yosemite Valley. Chouinard's pitons gained a reputation for quality because they could be reused repeatedly, allowing climbers to scale higher walls. Chouinard Equipment Ltd. was formally established in Ventura, California, in 1965.

In 1972, Chouinard and climbing partner Tom Frost published the Clean Climbing Manifesto in the Chouinard Equipment catalog. The manifesto advocated for removable climbing protection over pitons that permanently scarred rock faces. Pitons represented 70 percent of Chouinard's sales at the time, making the stance commercially risky. The manifesto gave birth to the clean climbing ethic and led to the development of removable protection devices, including the predecessors to modern camming devices.

By the late 1980s, Chouinard Equipment faced severe challenges. Product liability lawsuits and persistent unprofitability led Yvon Chouinard to place the company in Chapter 11 bankruptcy in early 1989. Retailers were pessimistic about the prospects for a successor company, noting that Chouinard's prestige depended heavily on its founder's personal reputation.

Black Diamond Equipment was founded on December 1, 1989, when a group of former Chouinard Equipment employees led by Peter Metcalf and Maria Cranor purchased the company's assets. The employees, who became 51 percent owners of the new company, raised several million dollars to complete the buyout. The transaction was structured through Lost Arrow, the parent company of Chouinard Equipment, Patagonia, and related businesses. November 30, 1989, was Chouinard Equipment's last day of operations, and Black Diamond took over without a break in production.

In September 1991, Metcalf relocated Black Diamond and its 45 employees from Ventura, California, to the Salt Lake City, Utah, area. The move placed the company at the base of the Wasatch Mountains, providing immediate access to climbing and skiing terrain for product testing. Metcalf's vision was to create a culture where employees were completely immersed in the sports they served.

Through the 1990s, Black Diamond expanded its product line beyond climbing hardware. The company developed the Terminator ski boot with SCARPA of Italy in 1992, entering the telemark ski market. Black Diamond acquired Bibler Tents in 1996 and Franklin Climbing Equipment in 1998. In 2000, the company introduced LED headlamps, which became a significant product category. The AvaLung II avalanche safety device was introduced in 2001.

Black Diamond remained independent until 2010, when Clarus Corporation acquired the company for approximately $90 million. Peter Metcalf was appointed President and CEO of Clarus following the acquisition, continuing to lead Black Diamond within the public company structure. Metcalf later departed Clarus, and Warren Kanders assumed executive leadership as Executive Chairman.

Under Clarus's ownership, Black Diamond expanded through acquisitions. Clarus acquired Sierra Bullets in 2017 for $79 million and Barnes Bullets, forming a Precision Sport segment. However, Clarus sold the Precision Sport segment in February 2024 for $175 million to focus on outdoor products. PIEPS, an avalanche safety brand acquired by Clarus, was sold in July 2025 for approximately $9.1 million.

In 2024 and 2025, Black Diamond underwent a significant simplification strategy under Clarus. The company exited unprofitable categories and styles, right-sized inventory, and focused on its highest-margin products. Outdoor segment revenue declined from $204 million in 2023 to $184 million in 2024 to $176.9 million in 2025, but adjusted EBITDA improved by 80 percent in 2024. The strategy prioritized "A" and "B" products (high-margin styles) over "C" and "D" products (low-margin styles).

In Q2 2026, Black Diamond's Outdoor segment revenue increased 8.5 percent to $39.8 million, the first growth quarter following the simplification strategy. Apparel sales grew for the fifth consecutive quarter with double-digit growth. The company's "big three" categories of Mountain, Climb, and Apparel drove 95 percent of total Outdoor segment revenue.