Headgear maker Helmits Inc. is in talks to sell some of its iconic motorcycle helmets for about $300 million, and it has begun looking for partners to help it make a deal, Bloomberg reported on Wednesday.
The company is also in talks with private equity firms, including Fidelity Investments, to explore partnerships with some of the companies who make the helmets, the news service reported.
In the coming weeks, Helmits plans to raise $10 million from an unnamed investor.
It will use some of those funds to buy back some of Helmits shares, and the company expects to sell off some of them as well, the report said.
The company expects the proceeds from the sale to be used to finance expansion.
Helmits is the largest motorcycle helmet maker in the U.S. and has about 3,600 helmet sales.
It makes the models made by brands like American Eagle and Harley-Davidson, as well as the newer helmets from the Chinese manufacturer Nanhai.
The move comes at a time when the U, as the world’s biggest helmet market, is experiencing an epidemic of head injuries, including the more serious head and neck injuries caused by the coronavirus.
In September, the National Institutes of Health reported that nearly 10,000 people a day die of head and brain injuries in the United States.
The government has been trying to slow the epidemic and is encouraging people to wear helmets.
In October, it urged parents to vaccinate their children against the virus and encouraged parents to take them to doctor visits.