PADI被中國人收購 - 潛水運動討論

來源：www.goo.gl/lpfEVM

Providence Sells Scuba Cerifier PADI to Wealthy Families, Endowments

By Matt Jarzemsky

Providence Equity Partners LLC agreed to sell scuba certifier Professional Ass
ociation of Diving Instructors to a group of wealthy families and endowments f
or more than $700 million, according to people familiar with the matter.

The consortium includes philanthropists who were drawn to PADI’s efforts to p
romote oceanic conservation as well as its business, people familiar with the
deal said. They purchased the company through an entity dubbed Mandarinfish Ho
lding, named for a Pacific Ocean-dwelling fish whose vivid orange, blue and gr
een colors make it a favorite of some divers, the people added.

Orange County, Calif.-based PADI is the world’s largest diving membership and
training organization, having issued more than 25 million certifications, acc
ording to its website. Scuba equipment salesman John Cronin and swimming and d
iving instructor Ralph Erickson founded it from their homes in the Chicago sub
urbs in 1966, offering membership and course training materials to dive shops
and resorts.

Providence bought the company from private-equity firm Lincolnshire Management
in 2015 and helped it expand in China and upgrade its e-commerce system. It t
ripled its investment on the sale, according to a letter to its investors revi
ewed by The Wall Street Journal.

PADI’s new ownership reflects a shift in the investing landscape. Its buyers
included so-called family offices, which manage the fortunes of the wealthy. T
hese organizations have long invested with private-equity funds, but they’re
increasingly cutting out the money managers and doing their own private-equity
-style deals. By doing so, investors avoid paying private-equity firms fees fo
r managing buyouts and have greater flexibility to hold businesses for many ye
ars.

Rhode Island-based Providence has invested in several companies related to spo
rts, live entertainment and active pursuits. The firm last year sold sports-ma
rketing companyLearfield Communications Inc. for a return of about 2.9 times i
ts investment, the Journal reported. It sold Ironman Triathlon operator World
Triathlon Corp. to China’s Dalian Wanda Group in 2015, quadrupling its invest
ment.

Deutsche Bank AG advised PADI on the deal, according to people familiar with t
he matter.

Write to Matt Jarzemsky at [email protected]

心得：
PADI似乎被中國人收購了
而且是以七億美金買下
PADI真的夠成功
一個系統就讓人花七億

--