The world of scuba diving is in turmoil! The HEAD group, already well established with its leading brands Mares and rEVO, and its training agency SSI, is in advanced talks to buy the Aqualung group, currently owned by the asset management company Barings. This potential acquisition could well signal the end of the financial difficulties Aqualung has been experiencing for several years.
The information was confirmed by Aqualung this Tuesday, April 8, in an official press release: « HEAD intends to maintain and develop the Aqualung group and strengthen its military and professional division, which is strategic and experiencing significant growth.
HEAD also plans to leverage the production capabilities of the Aqualung group to support the production and distribution of high-quality products worldwide. The combined expertise of the two companies is expected to generate strong synergies, accelerate market leadership, and enhance the company’s competitiveness.
Victor Vadaneaux has been appointed CEO of the Aqualung group to ensure a smooth transition and integration. He has been a member of the group’s supervisory board and a company advisor since last year..«
Aqualung: A historic brand in trouble
Aqualung, a flagship of the diving industry since its inception, has recently faced significant cash flow problems. These difficulties have impacted payments to suppliers and, consequently, product availability for customers. Aqualung employees now place their hopes on the acquisition by HEAD, hoping for stock renewal and better customer service.
From Cousteau to Barings: A complex legacy
Founded in 1943 by visionaries Jacques-Yves Cousteau and Émile Gagnan, Aqualung revolutionized diving with the development of the first modern equipment. The group also includes well-known brands such as Apeks and Aquasphere. The acquisition of Aqualung by Barings at the end of 2023 was motivated by purely financial objectives, aimed at recovering the initial investment.
What future for Aqualung with HEAD?
While the details of Aqualung’s integration into the HEAD group remain unclear, this acquisition represents an opportunity to financially stabilize the company and revive its activity. Optimism reigns among Aqualung employees, who hope that HEAD will be able to solve the persistent problems and restore the brand to its former dynamism.
An official announcement regarding this transaction is expected in the coming weeks. Stay tuned to follow the development of this matter!
Source: https://divernet.com/scuba-gear/head-looks-set-to-buy-aqualung/