Swedish protective gear maker Mips AB has completed the acquisition of all shares in Koroyd SARL and SCP George TFE, following fulfillment of the conditions.
Koroyd, based in Monaco, develops advanced impact protection technology for head and body safety, complementary to Mips’ technology.
On December 11, 2025, Mips announced that it had entered a binding, conditional agreement to acquire all of Koroyd’s shares.
In earlier reporting from SGB Executive, the purchase price was indicated to be €40 million and was on a cash- and debt-free basis, with an additional earn-out of up to €25 million if certain performance targets were met, corresponding to multiples of 8x EBITDA and 13x EBITDA, respectively.
The acquisition is expected to be financed through available cash and a new credit facility.
Image courtesy Koroyd SARL
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See below for more details on the acquisition.
EXEC: Mips AB Expands Impact Protection Range with Koroyd Acquisition
