Black Diamond Launched With $900K Equity and 14% Interest Debt
Peter Metcalf · Black Diamond Equipment: Peter Metcalf · Oct 28, 2024 · at 28:11
Peter Metcalf, founder of Black Diamond Equipment, details the high-leverage financing structure used to buy the assets of Chouinard Equipment out of bankruptcy in 1989.
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“I raised just under 900,000 dollars of equity another like 150,000 dollars worth of sub debt, and then went to a commercial finance company and got the debt we needed at nearly 15% interest, 14%.”
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