Info Aqualung Financial Troubles

[cerich]

OMG, this shiit is legal??

yes mostly

 

[lexvil]

Someone should make a movie about these sort of business practices

 

[cfberry]

It seems like Aqualung has some financial troubles that puts it at some degree of risk of bankruptcy. They have been given a hard timeline to implement a 'get-well' plan . I am just throwing this out there for discussion. I am mostly interested in the old heads that have seen this situation before with other manufacturers and their assessment of what the fall out typically looks like. I sure do enjoy my Apeks regulators, but they are overpriced in the US and under Aqualung's umbrella that ultimately falls under a private equity firm's ownership that seems to be super distant from shops/regular divers. Sounds like they set their hat on blaming the supply chain for their financial woes. I feel that may be partly the case, but given the nature of private equity firms, the second someone else wants to try and polish their turd they made, they will sell and that shakes things up even worse for the end user. It definitely gives me pause when considering regulator choices with long term ownership as a factor.

intresting

 

[scubadada]

actually the truth will tell, and what you stated regards it being sold to Barings is not true.

Baring's got Aqua Lung by acquisition not by purchase which is what happens when something is sold.

You know, you really have an issue with saying things as fact that aren't. It's a pattern.

You are correct, the Montagu/Barings transaction was an acquisition, not a sale. I used the wrong term in my description.

 

[twistypencil]

My local regulator service techs told me that Apeks/Aqualung/US Divers regulators have been sitting in their workshop waiting for parts for over 4 months, they aren't getting any calls back from the service reps, emails are not being returned, Supposedly they fired everyone except 7 people.

 

[Bob Evans]

I grew up with Aqualung with my Double Hose regulator, Bob Meistrell serviced for me at Dive N Surf 1966. We received sales from their overseas distributors for the Military. I will admit Force Fins Sales have dropped over 90% these last few months. Not looking good for a 40-plus

USA Fin Company. Photo copyright Bev Morgan of Bob Evans (1971) Anacapa Island.

 

[runsongas]

@twistypencil for the US division yes, as part of moving from california to florida to cut costs. they might have better luck reaching out to Apeks in the UK

 

[Divin'Papaw]

My local regulator service techs told me that Apeks/Aqualung/US Divers regulators have been sitting in their workshop waiting for parts for over 4 months, they aren't getting any calls back from the service reps, emails are not being returned, Supposedly they fired everyone except 7 people.

Interesting. I recently checked with Airtech Scuba who does all my AL reg service and they said they’ve had zero issues getting rebuild kits.

 

[Eric Sedletzky]

Lets try an analogy:

You have a $3 million home.
You have continued to borrow money against it until you now owe $15 million on a loan attached to it.
Your income is $350,000/yr (before taxes).
Your interest only payments are $1,000,000/yr.

What do you call it when the bank 'acquires' your home?

Loaning 15 million on a 3 million home: the bank must have really wanted that home!

 

[Skunky]

I work in the industry a dive professional and reg tech. i’m 90% sure AL is going out of business. our california service contact has all but disappeared. we’ve been waiting on an rma for a customers i300 for 3 months. we waited 2 months for service kits. just received about 20 of each but have 100 more on backorder with no eta. finally got a hold of our sales guy yesterday and he said he was standing in the office of our california service contact and he would call me back in an hour. that was 36 hours ago with multiple return calls made going right to voice mail.

bye bye