Certification giant PADI was sold for $700 million USD to a company called Mandarinfish Holding

The Wall Street Journal on March 21 reported that Providence Equity, which has owned PADI, the world’s largest scuba-certifying agency, since 2015 has sold the company. PADI sold for an estimated $700 million USD. This amounts to a more-than-tripled initial investment over those few years.

It is understood that PADI sold to consortium, which purchased the agency via a holding company called Mandarinfish Holding. The Wall Street Journal reported that the interested buyers were drawn by PADI’s efforts to promote marine conservation, a point one could argue that PADI does not do enough of, but that’s another story all together.

There was a report back in November 2016 in Bloomberg that Providence Equity was looking to sell PADI with an estimated valuation of the business at around 1 billion.

Have something to add to this post? Share it in the comments.
New stuff
Vobster Quay

Virgin Start-Up Backed Company Creating Artificial Reef at Vobster Quay

A Virgin Start-Up-backed company, ARC Marine, is creating an artificial reef at premier U.K. dive site Vobster Quay in 2017.
by Kathryn Curzon

Best Dive Sites in Scapa Flow

In the Scottish Highlands, a remote, sheltered stretch of water around the Orkney Islands is home to Scapa Flow, with some of the best dive sites in Britain.
by Guest Author Chris Vyvyan-Robinson

Diving in Raja Ampat

The diving in Raja Ampat, Indonesia is world-class, sustainable and — perhaps surprisingly — can be quite affordable.
by Andy Phillips

Surface Signaling for Scuba Divers

Getting someone’s attention underwater is a crucial safety skill. Here’s a roundup of the most common underwater signaling for scuba divers.
by Thomas Gronfeldt