Aqua Lung Group has changed ownership!

Last year’s announcements heralding a change of ownership of one of the best-known dive brands, Aqua Lung, have been confirmed. Montagu Private Equity became the new owner, and negotiations with Air Liquide for the acquisition themselves had been ongoing since October 2016. Of course, all the details of the transaction are covered in secrecy, but

ByTomasz Andrukajtis

Published: March 16, 2017 - 18:57

Updated: July 22, 2023 - 14:57

Last year’s announcements heralding a change of ownership of one of the best-known dive brands, Aqua Lung, have been confirmed. Montagu Private Equity became the new owner, and negotiations with Air Liquide for the acquisition themselves had been ongoing since October 2016.

Of course, all the details of the transaction are covered in secrecy, but from unofficial sources we know that Aqua Lung group was acquired for a sum in the order of $400 million! Admittedly, not much is still known at this point. Apart from the fact that the negotiations themselves took place, it was also revealed that the sale and signing of the documents took place on 30 December 2016.

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The group of brands affiliated by Aqua Lung includes Apeks Aqua Sphere, La Spirotechnique, Pelagic, Seaquest, Technisub and US Divers. In total, it employs nearly 1,000 people in more than 90 countries around the world. In 2015, this translated into a profit generation of €200 million.

The whole story began in the mid-1940s. It was in 1946 that Air Liquide, together with Jacques Cousteau and Emile Gagnan, founded “La Spirotechnique”. The company dealt with the design and creation of diving equipment, including some of the first automatons available on the commercial market. We are of course talking about the now legendary CG45.

Two years later in 1948, Cousteau’s relative Rene Bussoz, who lived in California, signed a 5-year contract with L’Air Liquide to import diving equipment to the USA. As Bussoz was a smart man, he changed the name from La Spirotechnique to US Divers and registered the name Aqua Lung. When the contract expired and was not renewed, he sold his company and the rights to the Aqua Lung name to a French company.

In the following decades, the company and its brands became internationally recognised. In the last 20-30 years, the Aqua Lung group has bought out several other brands including British Apeks and Canadian dry suit manufacturer Whites Manufacturing.

Source: bloomberg.com

About author

Tomasz Andrukajtis

Editor-in-chief of the DIVERS24 portal and magazine. Responsible for obtaining, translating and developing content. He also supervises all publications. Achived his first diving certification – P1 CMAS, in 2000. Has a degree in journalism and social communication. In the diving industry since 2008.