Shearwater now majority owned by private equity firm

[lowwall]

That's an interesting brand portfolio. At least it looks like the new owners aren't the type to try to artificially pump the financials so they can flip the company or turn it public.

But they are obviously going to want revenue growth. Since they already have the top end of the computer market, the next step would be to expand downwards. A Teric-format version of the Peregrine is the obvious next product, I imagine they are already working on it.

But then what? I'm not sure where else they can go in the dive computer market. Would anyone want a Peregrine or rec version of the Teric with a monochrome screen even if it were $100 cheaper? I suspect they'll have to add product lines. Something electronics based would make the most sense given their current team. But there's not many options in the dive market. An action cam designed from the ground up for divers would be nice. Lighting would be a possibility. Maybe they can figure out how to build a safe recreational rebreather, if that ever happens it will have to be based around electronic monitoring and a HUD.

More likely is that they'll decide to leverage the Shearwater brand good will and start adding other dive products. Would you like to see a Shearwater drysuit? How about regs?

 

[Divin'Papaw]

lights probably the logical step as there is a price premium that can be profitable and not too far off from dive computers. import the batteries and emitters, do the optics/controllers/housing and final assembly/qc in canada. massage the numbers so the content value qualifies for made in canada.

Do we really need another light company? Isn't that market already covered in terms of high end, quality options? I can't see Shearwater branching out beyond computers. But I'm probably wrong.

 

[runsongas]

there are options on the market, but capitalism is based on competition

 

[Jim Hartt]

Hello everyone, we appreciate seeing all your responses to our recent post on the change of ownership control at Shearwater. I’ve had the privilege for the past few years of being the CEO of Shearwater Research.

Shearwater initiated the process of succession for the founders, while sustaining the organization’s ethos, over two years ago. It took time, but it had to be done right. The global pandemic didn’t help the process. We looked for partners that recognized and valued the qualities that led to Shearwater’s hard-earned reputation for quality and extraordinary customer service and could help the organization to further grow and scale up. We had to be sure that our new partners were going to be compatible with our company values.

We believe BRS is the right partner for us. We selected BRS for their successful track record with consumer products, its proven strategy and business acumen and the quality of relationships it has established with its other portfolio companies’ leadership teams. We look forward to working with them.

Bruce and Lynn Partridge continue to hold an investment in Shearwater and will continue to contribute as members of the Board of Directors. All management and staff remain in place and committed to Shearwater’s continued growth. Shearwater’s name isn’t changing, nor its focus on what we do best. We have the same products, customers and suppliers doing business on the same terms. We continue to build our products in our own Canadian facilities just like we’ve always done. In fact, this past December we moved to a manufacturing and headquarters space that is twice the size of our previous location, and yet just down the street. We remain committed to being an authentic diving business made up of divers and subject matter specialists. We will be happy to be judged on our track record moving forward and appreciate the interest and passion of this community.

 

[lowwall]

Do we really need another light company? Isn't that market already covered in terms of high end, quality options? I can't see Shearwater branching out beyond computers. But I'm probably wrong.

Shearwater has sold a lot of computers to casual divers who may be unaware of the boutique light companies. They also have the advantage of an established network of dealerships.

 

[Divin'Papaw]

Hello everyone, we appreciate seeing all your responses to our recent post on the change of ownership control at Shearwater. I’ve had the privilege for the past few years of being the CEO of Shearwater Research.

Shearwater initiated the process of succession for the founders, while sustaining the organization’s ethos, over two years ago. It took time, but it had to be done right. The global pandemic didn’t help the process. We looked for partners that recognized and valued the qualities that led to Shearwater’s hard-earned reputation for quality and extraordinary customer service and could help the organization to further grow and scale up. We had to be sure that our new partners were going to be compatible with our company values.

We believe BRS is the right partner for us. We selected BRS for their successful track record with consumer products, its proven strategy and business acumen and the quality of relationships it has established with its other portfolio companies’ leadership teams. We look forward to working with them.

Bruce and Lynn Partridge continue to hold an investment in Shearwater and will continue to contribute as members of the Board of Directors. All management and staff remain in place and committed to Shearwater’s continued growth. Shearwater’s name isn’t changing, nor its focus on what we do best. We have the same products, customers and suppliers doing business on the same terms. We continue to build our products in our own Canadian facilities just like we’ve always done. In fact, this past December we moved to a manufacturing and headquarters space that is twice the size of our previous location, and yet just down the street. We remain committed to being an authentic diving business made up of divers and subject matter specialists. We will be happy to be judged on our track record moving forward and appreciate the interest and passion of this community.

@Jim Hartt Thank you for chiming in! Those of us on ScubaBoard who are Shearwater owners, and there are many, absolutely hope you are right! As long as you continue to be the company going forward that you've been in the past, I'm sure we will remain loyal customers.

 

[scubadada]

Thanks @Jim Hartt I appreciate your post. I have owned a Teric for two years now. I love the computer and have experienced the absolutely excellent service, thanks Dive-Tronix.

May I have an AI Peregrine please?

 

[broncobowsher]

Evolv has certainly become more polished (branding and product) over the past few years. (Also, their Cruzer approach shoes are my usual kicks while setting up gear at the dive site).

I got a pair of Evolv shoes about 10 years ago. Just me regular daily shoe. Great shoe. Really hated when it finally got used up. Went through several other shoes and eventually found another source of Evolv. Happy to find it again. Still a great product. If it is any sign that the old product and the new product are both satisfyingly to own leaves me with a lot less worry about the ownership of Shearwater.

 

[michael-fisch]

How about selling controllers to anybody who will sign a waiver? Sherwater has avoided the homebuilder rebreather market for at least 10 years forcing us to use second class controllers for our homebuild7semihomebuild rebreathers.
Michael

 

[kelemvor]

Wow! Such a rare direct communication from a dive equipment manufacturer's CEO. That bodes well for the future.