Henley-on-Thames based HMT LLP, led by partner Paul Read and manager Adrian Howells, undertook due diligence for private equity firm Beringea LLP (Beringea) on its $13 million investment in D30, a developer of smart materials.
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 US and Canadian ski teams pioneered D3Os revolutionary soft armor.
Of the total raised, approximately $13m 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.
Trevor Hope at Beringea commented: “It was a pleasure working with Adrian and Paul during our recent investment. Their professional contribution was highly valuable to the process and we look forward to working with them again in the future.”
Read commented: “D3O operates in an innovative marketplace and, with the development of the new designs and support from Beringea, management is in a strong position to lead the business through a period of rapid and significant growth.”
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