Who owns Padi?

[Thalassamania]

I have always had this theory that PADI doesn't make nearly as much money as everyone likes to pretend on SB. Otherwise it surely would have had a splashy IPO before now and the original founders would have cashed out.

I think that your missing what I have been told is the reality. I suspect that you are correct that PADI principals, per se, doesn't make as much as many expect, but I have been told that the "off the PADI books" profits from items such as insurance "finders fees" (nice name for kickback, bribe, lamordida, el chanchullo, etc.) that are paid to individuals by the insurance agents who place the actual coverage. This is, as I understand it, a practice that is common to all of the private, for profit, major agencies.

 

[Rhone Man]

I think that your missing what I have been told is the reality. I suspect that you are correct that PADI principals, per se, doesn't make as much as many expect, but I have been told that the "off the PADI books" profits from items such as insurance "finders fees" (nice name for kickback, bribe, lamordida, el chanchullo, etc.) that are paid to individuals by the insurance agents who place the actual coverage. This is, as I understand it, a practice that is common to all of the private, for profit, major agencies.

That would be another good reason not to have an IPO...

 

[Thalassamania]

I have always had this theory that PADI doesn't make nearly as much money as everyone likes to pretend on SB. Otherwise it surely would have had a splashy IPO before now and the original founders would have cashed out.

That would be another good reason not to have an IPO...

Exactly.

 

[techdive90]

I think the information given above is a bit out of date. The rumour in the trade is that the original owners have sold out to some sort of corporate fund. It might explain all the reorganisation in Europe at the moment. If so, it's been kept very quiet. But then again, the industry is full of misinformation.

 

[Diver081970]

The time where PADI Worldwide was owned by people interested in scuba diving is over.
A few years ago the Seidler Equity Partners bought PADI worldwide and this month they sold it to Lincolnshire Management NY.
You may doubt that this helps to the quality of education. Cash flow and short term profit seems to be more important now!

 

[JohnN]

My bet is Bernie Ecclestone is the 'real' owner of PADI :cool2:

 

[OldNSalty]

My bet is Bernie Ecclestone is the 'real' owner of PADI :cool2:

Nope-he just owns the commercial rights and profits.