Montagu Private Equity (“Montagu”), a leading European private equity firm, announces today that it has entered exclusive negotiations with Air Liquide for the potential acquisition of Aqua Lung (“the Company”), a key player in personal aquatic equipment for recreational and professional use.
Launched in 1946 under the name La Spirotechnique by French explorer Jacques Cousteau, Emile Gagnan and Air Liquide, Aqua Lung designs and produces a broad range of scuba diving equipment for recreational and professional use. Having gained global recognition in diving under the brands Aqua Lung and Apeks, the company successfully forayed into several other aquatic equipment markets (including free diving, snorkelling, fitness and competition swimming).
With a strong presence in Europe, the US and in more than 90 other countries, the company generated approximately €200 million revenues in 2015 with 1,000 employees.
The transaction would be subject to the final and definitive agreement between the parties and customary conditions and provisions.
Lazard and Weil Gotshal acted as exclusive advisers to Montagu.