the bank really wants the rest of the business the VC runs thru and this will be put in the right account as a tax offset anyhow.
Happens every day.
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Happens every day.
Yes.
Medium. The long bloody lineage of private equity's looting
Or worse. A favorite PE tactic in the US is to buy a company that has money set aside to fulfill their pension obligations, loot the company and load it with debt to the PE firm until the company can no longer make the debt payments, then put it into bankruptcy, which allows the company to shed its pension obligations onto the public pension insurance fund. As senior creditor, the PE firm can then pay itself to buy the company out of bankruptcy and then turn around and sell whatever is left of the now debt-free company.
When Private-Equity Firms Bankrupt Their Own Companies
Private-equity firms can succeed when their companies, customers, and employees fail. It’s a broken system.www.theatlantic.com
Old news but I do hope this won't end up the same as Aqualung....
Shearwater Research Attracts New Majority Shareholder
Richmond, BC, Canada Bruce and Lynn Partridge and the management of Shearwater Research Inc. (“Shearwater”) are pleased to announce that BRS & Co. (“BRS”), a New York-based private equity firm, has today completed a control investment in Shearwater. The financial terms of the transaction were...
shearwater.com
And curious what will become of Apeks. That director carousel and 25mln loan do somehow seem like a last minute cash grab.
BRS appears to be the better type of PE fund that makes its money by building acquisitions up instead of stripping them down. Shearwater was acquired by them 3 years ago and it still looks good from our end as consumers. They've logically expanded their offerings, kept manufacturing in Canada, and are still keeping up the customer service they were known for.Old news but I do hope this won't end up the same as Aqualung....
Shearwater Research Attracts New Majority Shareholder
Richmond, BC, Canada Bruce and Lynn Partridge and the management of Shearwater Research Inc. (“Shearwater”) are pleased to announce that BRS & Co. (“BRS”), a New York-based private equity firm, has today completed a control investment in Shearwater. The financial terms of the transaction were...
There was a thread about it at the time which makes for interesting reading, Shearwater's CEO even jumped in with a comment: Shearwater now majority owned by private equity firm
Captain Bravo
Registered
I have been diving with an Aqualung Titan regulator set and I am looking to upgrade within the next six months or so. I was thinking about purchasing a Legend, good for cold water. With Aqualung financial difficulties, I'm concerned about long term parts availability and support.
The fact that my Titan regulator has safely kept me alive for all the dives I've done with it, never free flowing or causing any issue means I trust the brand. But I don't want to spend that kind of cash on a higher end regulator that I won't be able to get serviced here in Quebec down the road should the Aqualung brand and customer support in North America remain the way it is.
I guess we'll see how things improve (or not) within the next few months. Otherwise, I might have to go to another brand.
The fact that my Titan regulator has safely kept me alive for all the dives I've done with it, never free flowing or causing any issue means I trust the brand. But I don't want to spend that kind of cash on a higher end regulator that I won't be able to get serviced here in Quebec down the road should the Aqualung brand and customer support in North America remain the way it is.
I guess we'll see how things improve (or not) within the next few months. Otherwise, I might have to go to another brand.
I’d ask your preferred local dealers how easy it is for them to get Aqualung service kits currently.
Anecdotally I’ve heard they are in very short supply here in BC.
Captain Bravo
Registered
Scubapro has a pretty good dealer network. SP likes to restrict service kit sales to authorized shops only, however.
Deep6 will sell direct to the end user service kits. They even include a service kit with each reg they sell. Their service manuals are also freely downloadable. So you could self service, but if you choose not to, your tech can handle it for you and have all the information he needs from the service manuals. You can also ship your regs back to them for service as well.
Deep6 will sell direct to the end user service kits. They even include a service kit with each reg they sell. Their service manuals are also freely downloadable. So you could self service, but if you choose not to, your tech can handle it for you and have all the information he needs from the service manuals. You can also ship your regs back to them for service as well.
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Perhaps unrelated, Aqua Lung and Apek regs on sale with free octos
runsongas
Contributor
free octo used to be a yearly promotion
Eric Sedletzky
Contributor
Not all shops will work on brands that they don’t sell. My LDS for instance will not work on brands that sell direct to the public and sell parts to the end user. Same with a very large shop in LA that sells and services regs for a lot of government agencies and universities, they will not service anything they don’t sell. Those DIY factory direct brands are keyed for people who do their own work and/or don’t trust shops to touch their stuff.
