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
dive Mexico

Five Great Reasons to Dive Mexico This Winter

It’s is one of the best diving destinations in the world, with highlights like Socorro Island and the Sea of Cortez. Here are five great reasons to dive Mexico this winter.
by LiveAboard.com
Bob Halstead

Dive Legend Bob Halstead Passes Away

The dive community lost a legend in December when prolific author and photographer Bob Halstead passed away.
by Deborah Dickson-Smith
Gili islands

Diving the Gili Islands After the 2018 Earthquakes

Lombok and the Gili Islands are bouncing back after the devastating 2018 earthquakes and are anxious to welcome visitors once again.
by Deborah Dickson-Smith
jellyfish lake

How is Jellyfish Lake Doing?

After vanishing two years ago, the jellyfish of Palau’s Jellyfish Lake are recovering. Local tour companies are once again visiting the iconic location.
by Guest Author