FAKE NEWS!!--PADI to be sold once again

[Efka76]

I just found interesting article that private equity fund want to sell PADI. It seems that this might drive PADI prices once again. It is a pity when good organization becomes money greedy monster and tries to squeeze customers without giving them additional value.

Is Aqua Lung buying PADI? With an asking price of US$1.2B

 

[Eric Sedletzky]

It’s too bad when it started as a group of dedicated dive instructors wanting to form an association to make dive training better, and now it seems to be all about the money.

 

[mdb]

This article sums it up very well.

 

[Divegoose]

To quote from the article:

"In a bit more than a year, Providence approximately doubled the value of their investment in PADI by doing very little more than increasing prices while cutting costs (with lots of layoffs)."

"PADI has continued to increase the price of their products and services, while continuing to cut costs. If you are a client of PADI (in other words, if you are a PADI dive center or PADI dive professional), you know it’s hard to get any kind of support from PADI nowadays. To start with, there’s almost nobody left to talk to in that building in Rancho Santa Margarita, California!"

Exemplifies the term "Put Another Dollar In" - prices go up and service goes down. Now I understand why one of my favorite dive centres switched from PADI to SSI.

Divegoose

 

[Efka76]

To quote from the article:

"In a bit more than a year, Providence approximately doubled the value of their investment in PADI by doing very little more than increasing prices while cutting costs (with lots of layoffs)."

"PADI has continued to increase the price of their products and services, while continuing to cut costs. If you are a client of PADI (in other words, if you are a PADI dive center or PADI dive professional), you know it’s hard to get any kind of support from PADI nowadays. To start with, there’s almost nobody left to talk to in that building in Rancho Santa Margarita, California!"

Exemplifies the term "Put Another Dollar In" - prices go up and service goes down. Now I understand why one of my favorite dive centres switched from PADI to SSI.

Divegoose

I do not know whether it is true or not but recently I had a discussion with instructor (he is instructor for PADI, SSI and few technical agencies). He mentioned that SSI became really much stronger and start winning over PADI.

 

[nadwidny]

To quote from the article:

"In a bit more than a year, Providence approximately doubled the value of their investment in PADI

That's what private equity funds aim to do, although most of the ones I know about have a 5 year timeline to do so. To be able to do that in much less than that, shows...I'm not sure what it shows. Good for them I guess.

 

[KatieMac]

To quote from the article:

"In a bit more than a year, Providence approximately doubled the value of their investment in PADI by doing very little more than increasing prices while cutting costs (with lots of layoffs)."

"PADI has continued to increase the price of their products and services, while continuing to cut costs. If you are a client of PADI (in other words, if you are a PADI dive center or PADI dive professional), you know it’s hard to get any kind of support from PADI nowadays. To start with, there’s almost nobody left to talk to in that building in Rancho Santa Margarita, California!"

Exemplifies the term "Put Another Dollar In" - prices go up and service goes down. Now I understand why one of my favorite dive centres switched from PADI to SSI.

Divegoose

I called them a few times last year doing my AOW. Didn't really have a problem reaching the in CA - well at least in working hours. At the same time, their support to ages to recover my password.

 

[KatieMac]

Interesting timing. RAID was just acquired by private equity in June http://www.invernessgraham.com/docs/IGI_Scuba_FINAL.pdf

 

[The Chairman]

He mentioned that SSI became really much stronger and start winning over PADI.

Yeah, that's pretty much wishful thinking on his part. just because your instructor tells you something doesn't make it so.

 

[Saniflush]

I can only speak for the couple of times that I have had contact with the PADI office, but I had no problem getting someone on the phone or getting my problem(s) taken care of.