Investment in D3O by Beringea LLP
HMT LLP undertook due diligence for private equity firm Beringea LLP on their $13 million investment in developer of smart materials D3O.
Based in Brighton, D3O is a ground-breaking impact protection solutions company that licenses a range of unique patented smart materials. Its technology is used to produce a shock absorbing material that can be found in a range of products across the motorcycle, sport, footwear, electronics, military and work-wear sectors. D3O® was proven during the 2006 Winter Olympics, when the U.S. and Canadian ski teams pioneered D3O®’s revolutionary soft armor.
Of the total raised, approximately $13 million was invested by Beringea. The proceeds of the round will be used to support the further expansion of D3O’s impact protection products and its future international growth.
HMT undertook financial due diligence for Beringea on the investment.
Trevor Hope at Beringea commented:
Paul Read commented:
“D3O operates in an innovative marketplace and with the development of the new designs and support from Beringea, Management are in strong position to lead the business through a period of rapid and significant growth.”
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