Info Aqualung Financial Troubles

[Green Frog]

PS It wasn’t the AL portion of my rig I had problems with. My rig is like Johnny Cash’s Cadillac… “I got it one piece at a time!” Again, if I trust the technician, I’ll feel a little safer taking my established gear diving directly on return. Remember, a skydiver can’t test his rig after it’s packed until he pulls that ripcord!

 

[Jake 10]

what is the status of AquaLung finanical troubles. anyone knows? Have they file for bankruptcy? can't find any updates on this subject.

 

[scubadada]

what is the status of AquaLung finanical troubles. anyone knows? Have they file for bankruptcy? can't find any updates on this subject.

I believe that Barings will not take over from Montagu until this fall, when the transaction passes regulatory approval

 

[Green Frog]

Has it been announced whether they will continue to make (and support) AL equipment or should we all start making plans for aftermarket service and supplies and/or replacement with another brand. This is kinda like having General Motors go into receivership… it affects a lot of people in a variety of ways. With the right management team, it could be a good thing, but if somebody just comes in to “pick the bones” things could be very sad.

 

[Jake 10]

Will this issue open the doors for other competitors to raise prices based on added demand for what they offer, since AL may not be around?

 

[OMyMyOHellYes]

Just knowing a little bit about the PE and corporate restructuring world, I think it premature to call AL "out". They will likely be around in some form - that trademark and related intellectual property is one of the only assets of any value any new owners would be interested in buying...

They may keep it as is, they may up the game, or they may outsource all design, engineering and production to outer Elbonia cash out and ride into the sunset....

But legacy products, for service purposes, can likely be supported for the foreseeable future. If not by AL then by 3rd party suppliers of o-rings, assuming such companies exist.

 

[lowwall]

Will this issue open the doors for other competitors to raise prices based on added demand for what they offer, since AL may not be around?

Scuba is not a growing sport. If anything there is excess capacity, so there shouldn't be shortages that lead to predatory pricing.

And it's not a monopoly situation either. Scubapro and Mares will still compete for the primary market and they are parts of big conglomerates with solid financial situations. Maybe one of the second tier brands (in the US) like Tabata/TUSA, Cressi or XS Scuba will use the opportunity to move up. My money would be on XS Scuba since they already have a relationship with nearly every dive shop in the country.

 

[Green Frog]

I'd be curious to know who can come in with the variety that AL has had, or perhaps which specialty companies will carve out strong niches for themselves. XS, Dive Rite, Oxy Cheq, and several others seem to be in good positions to grab their own chunks of the market if a void is left by AL, and the biggies like SP and Mares certainly would love to grab a bigger market share. I have to agree though, the name and intellectual properties of AL have a certain value that any savvy investment group should know better than to fritter away. Neary 3/4 of a century of being the best known name in the business should be worth something!
JMHO, YMMV.

 

[BoundForElsewhere]

Aqua Lung isn't just the "Scuba" equipment part you all know, there are other brands/product lines. The cut, if there is one, will probably come from the other lines. OMER is an Apnea/Spearfishing product line that was acquired by AL not too long ago. OMER, an Italian company, was one of the best known brands in the world that was turned into shiit by AL takeover. The French management of Omer pissed off the Italians who worked for Omer in Italy. The Omer senior management left Omer as well as some of the big name spearos that were promoting Omer left also. These management and very famous spearos went to work for another Italian company, C4. C4 went after the Omer business which I think was made easy by the way AL managed Omer. I have personally dealt with the Italians and then the arrogant French who took over. I just couldn't work with them and their most unprofessional and arrogant attitude. I understand that the Italians who left Omer had the same issues.

What? The French are arrogant? Well, that explains Beuchat.

 

[BoltSnap]

The French are arrogant?

Arrogant and always misinterpret English in a negative way to fit their narrative.