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
Scuba Diving as Meditation

Scuba Diving as Meditation

Many non-divers think of scuba as extreme. But many of us already hooked on the sport think of scuba diving as meditation.
by Guest Author

Cabbage Tree Bay: Manly’s Marine-Park Miracle

Fifteen years ago, Cabbage Tree Bay in the Sydney suburb of Manly was entirely fished out. But thanks to effective conservation, the reef has rebounded spectacularly.
by Deborah Dickson-Smith
Macro Images

Shooting for a Black or Blue Background in Macro Images

Once you’ve mastered lighting in your underwater compositions, it’s time to learn how to shoot for a black or blue background in your macro images.
by Guest Author
Drysuit P-Valve

Introduction to the Drysuit P-Valve

There are divers who pee in their wetsuits and divers who lie about it. But what if you’re in a drysuit when the urge strikes? A drysuit p-valve can save the day.
by Richard Devanney