Mips acquires Koroyd, expanding helmet safety portfolio
Helmet safety leader Mips has agreed to acquire Koroyd, significantly expanding its protection technology portfolio and strengthening its position at the top of the global helmet safety market.
The deal brings together two of the most recognized names in impact protection. Monaco-based Koroyd is known for its advanced energy-absorbing structures used across powersports, cycling, motorsports, defense and industrial safety. The technology is widely viewed as complementary to Mips’ rotational-motion protection systems.
Koroyd generated approximately $12.9 million in revenue and $5.9 million in adjusted EBITDA during its most recent financial year. Mips will acquire the company for approximately $46.8 million USD on a cash- and debt-free basis, with a potential earn-out of up to $29.3 million USD tied to performance targets. Total consideration could reach roughly $76 million USD. The transaction is expected to close in December 2025, pending financing and regulatory approvals.
“This acquisition marks another important step in our long-term strategy to strengthen Mips’ position as the leader in helmet safety,” says Max Strandwitz, CEO and president of Mips. “By combining two complementary technologies, we uniquely position the group while opening the door to adjacent product safety categories.”
Strandwitz added that both brands will continue to operate independently, while collaborating on product development, innovation and marketing.
Koroyd founder John Lloyd said the partnership aligns closely with the company’s mission.
“Koroyd was built on purposeful innovation that genuinely improves protection while putting the user first,” says Lloyd. “In Mips, we’ve found a partner that shares that ethos. Together, we can accelerate innovation and expand what’s possible in protection.”
The acquisition signals continued investment and momentum in helmet safety technology at a time when consumer awareness and regulatory scrutiny of rider protection are rising. The combination of Mips’ rotational-impact systems and Koroyd’s energy-management structures is expected to expand options for helmet manufacturers — and ultimately, for riders.
Mips expects the acquisition to positively contribute to earnings, margins, and long-term growth as the company broadens its reach across existing and adjacent safety markets.
