Clarus signed a new $75 million credit facility agreement, plus an uncommitted accordion feature for an additional $75 million, for a total of up to $150 million with JPMorgan Chase Bank.

The upsized agreement replaces the company’s $40 million revolving credit line at more favorable rates.

The facility bears interest at an adjusted LIBOR rate plus an applicable margin ranging from 1.5% to 2.0% and matures in 2022. The proceeds will be used to fully pay down the company’s previously existing revolving credit facility, as well as for working capital and general corporate purposes.

Key features of JPMorgan’s international product include the potential for local funding sources and the future ability for European and Asia-Pacific region subsidiaries to share borrowing base availability.

“Our new, upsized revolving credit facility represents a strong pillar in our overall financial strategy and is supportive of our long-term growth plans,” said Clarus CFO Aaron Kuehne. “The key features of the agreement provide flexible covenants with structural enhancements for our strategically important, internationally-based operations.”

Salt Lake City-based Clarus is focused on the outdoor and consumer industries, seeking opportunities to acquire and grow businesses that can generate attractive stockholder returns.