DHD Share Offer Open to Public

From their humble beginnings in Kirra 35 years ago to becoming a global surfboard brand synonymous with high performance, DHD is only getting started: 

  • DHD’s profitability for the last 4 years has enabled them to invest in diversifying their revenue streams
  • Their recent acquisition of Modom, an established player in soft boards and surf accessories, will allow DHD to explore and participate in new markets 
  • DHD’s anticipated launch into EPS surfboards will arrive later this month, with retailers already committed
  • Distribution agreements have recently been agreed to in Spain, Portugal, France and Israel, complimenting their existing agreements across SE Asia, Japan and New Zealand 

With a profitable business model, strategic acquisitions and a world-class team on their boards, DHD is poised for growth. Now you can own a piece of a surfboard company!

– Investment opportunity now open to the public via crowdfunding platform
– Looking to raise $2.5million AUD
– $58k already raised
– Min investment parcel is $250

All details below are direct from the Equitise Crowd Funding Platform:



Since its inception in 1984 in a garage in Kirra,  DHD has grown into a profitable, globally leading surfboard manufacturer and surf brand with a strong presence in both domestic and international markets.

Founder Darren Handley’s shaping and design skills have attracted the world’s best surfers to the DHD team, including three time world champion Mick Fanning and six time world champion Stephanie Gilmore.

DHD has manufactured polyurethane (PU) surfboards for the global market from its home in Burleigh Heads, Queensland, for the past 15 years. DHD has additional manufacturing facilities in Cost Mesa, California and boards are also produced under license in Brazil and Indonesia.


*In 2011 the assets of DHD were acquired out of liquidation and began a turn around strategy. The Company has since gone from strength to strength and returned to profitability.


DHD has experienced significant growth in revenue to date, having grown at a CAGR of 24.4% from 2015-2018. During this time DHD has established its name as the industry leader preferred by professional surfers, being synonymous with high performance surfboards.


DHD’s purpose of raising capital through crowdfunding is to create an engaged community of foundation shareholders around DHD and Modom. From time to time, exclusive promotional offers will be promoted to this community to reward their support of DHD and Modom.



Offering performance driven surf products has been the core business model of DHD for 35 years. As a traditional manufacturing and wholesale model, DHD produces surfing products (unless under license agreement where production is outsourced) and distributes to retailers.

These local and foreign clients retail DHD products and place a margin on each good sold. DHD generates profits by maintaining healthy margins through price discipline and economies of scale.


To cater for the global demand for DHD products, manufacturing sites have been established in Burleigh Heads (Queensland), Costa Mesa (California) and under license in Sao Paulo (Brazil) as well as Bali (Indonesia). Creating local manufacturing hubs enables DHD to quickly and cost efficiently reach global surfing audiences. In addition, as DHD has been operational for some time the supply chain management and logistics have been refined to ensure timely and quality assured product delivery.


The recent expansion of distribution channels is of strategic benefit to DHD, as they enable an efficient means of increasing product sales, with minimal capital outlay to establish presence in these markets. As the global surfing market is typically seasonal in nature, balancing demand between North and South Hemispheres can work to reduce revenue cyclicality.


Note: All athletes listed above are part of the DHD Surf Team.



As a result of DHD reinvesting the majority of excess cashflows to diversify revenue streams there are several growth initiatives that are being executed. They have been outlined below (for further information see section 2.5 of the Offer Document).

 EPS Surfboards

While expanded polystyrene (EPS) surfboards are not a new concept in surfboard manufacturing, DHD produces polyurethane (PU) boards exclusively. Twelve months of testing and development with the ultimate test pilot, Mick Fanning, has us confident of a premium product.

The first delivery of EPS boards is scheduled to arrive in late November and we have ambitions to quickly gain market share. Australian and international retailers have already committed to stock our EPS surfboards and we expect most of our immediate growth to come from the EPS market.

Modom Soft Boards

Modom soft boards are a high quality board at the premium end of the market. The Modom soft board can be used across all skill levels and adds a new revenue stream to the company.

The Modom soft board has been developed with the benefit of fifteen plus years of research and development and has been endorsed by notable surfers such as Jordy Smith and Asher Pacey.

 Surf Accessories

Our partnership with Modom allows immediate access to the accessory market. Key surf accessory products feature deck grips, leashes and board bags. Having the brands of DHD and Modom provide further strategic benefit as they enable new products to be represented by the most appropriate brand. In addition, plugging into DHD’s distribution and management will provide immediate sales growth through new revenue streams.

Surf Fashion

The surf fashion market is a sizable global market and we are currently working on our 2019/2020 offering. Our creative team are well placed to offer desirable fashion items over both DHD and Modom.


The table below sets out the intended use of funds raised under this Offer based on the minimum and maximum subscription amounts (for further information please see section 3.3 of the Offer Document).


An investment in DHD should be seen as high-risk and speculative. A description of the main risks that may impact our business is below.

For a detailed breakdown of the key risks please see section 2.14 of the Offer Document.


The following financial statements are unaudited consolidated accounts for DHD Surf Pty Ltd. and it’s subsidiaries.

For a full breakdown of the financials please see sections 2.11 and 2.13 of the Offer Document.

*All payables relate to working capital of the business. There are no outstanding or aged payables in this figure.

** This loan was used to fund the purchase of Modom and incurs a competitive rate of 8% per annum.

Consolidated accounts are dated as at 30 June 2018. Management can confirm that as of 31 October 2018 the Net Assets of the business are larger than the figure dated 30 June 2018.

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