I was told one of the original investors ponied up a bunch more to keep them in, so they are good.
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Still Kicking
Contributor
A good reg is a good reg regardless of the status of the manufacturer. There are enough parts in circulation to keep them serviced for many years and if Apeks does disappear (HIGHLY unlikely), there is a huge customer base to make it worthwhile for a third-party company to step up and sell kits. (And no more dealer chokehold on parts LOL!)
Buy the reg you want and enjoy it.
Green Frog
Contributor
This is indeed very good news. While I have a personal bone to pick with them over their discontinuation of support for the Conshelf series. OTOH, they’ve been around since the beginning of the industry and do still make a bunch of good equipment… and there are third party folks who will maintain my old Connies.
Nothing in the news. Anyway adding more debt isn't going to help their situation in the long run.
They were bought by Barings. Barings is an investment group that had a partial investment in AL for years anyway and decided to buy 100% control. AL isn't going anywhere....
I bet Jethro Tull is grateful for that.
It doesn't look like anything has changed since we last discussed this. They announced they were going to be acquired by Barings in June with the actual transaction to follow sometime in the fall. I believe "foreclosed on" is a more accurate description than bought as Barings was the company's largest debt holder. Even the press release uses the word "acquired" instead of "purchased".
The absence in the press releases of any commitment to inject fresh capital is notable. But maybe Barings will ease up on the extraction of cash which might be enough to give it a fighting chance. They do at least talk about giving them some time to see if they can turn it around.
BARINGS TO ACQUIRE AQUALUNG GROUP, THE WORLD LEADING MANUFACTURER OF EQUIPMENT FOR DIVING AND HIGH PERFORMANCE WATER SPORTS - DiveNewswire
Barings, one of the world’s leading investment managers, has entered into exclusive discussions to acquire 100% of the Aqualung Group, a global leader in manufacturing equipment for diving and highperformance water sports. All key stakeholders, including Barings as shareholder, as well as the...
www.divenewswire.com
If anything I would expect them to sell off the worthwhile brands for what they can and then shutter the rest. So while I don’t see Apeks going anywhere, I’d expect it to be under new ownership.
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