PADI the greatest is sold for $ 700 million
Wall Street Journal issued an article on 21/03/2017 that Providence Equity, the owner of the largest diving agency in the world, PADI, sold the company for an estimated $ 700 million.
This amount represents more than three times the amount of the first investment that the company was established on, and the amount of $ 700 million is a great profit for the main owner in a record period.
The article stated that it was sold through a holding company called “Mandarin fish Holding”.
The newspaper pointed out that the new buyer considered the large amount paid for the efforts of “PADI” made to serve marine life, despite our reservations about these reasons and without going into detailing this point and the extent of our conviction of the amount of “PADI’s” efforts and if it worth all this amount in exchange for its efforts towards marine life, or If it is doing what is necessary to the fullest extent. it can be said that “PADI” is the largest diving organization in the world and includes the largest proportion of divers. It is a leading organization and deserves more.
Most of our Diveholics friends are qualified divers through the “PADI” organization.
And in a previous report in November 2016 on “Bloomberg” “Providence Equity” “PADI had been offered for sale at an estimated value of $ 1 billion in the assessment of its work.
However, it was eventually sold for $ 700 million.
We thank everyone who contributed to the establishment of this wonderful organization and we wish success to the new owner and always look for the best.
For those who do not know PADI company …
The word “PADI” is an acronym for “Professional Association of Diving Instructors” and in Arabic means “Federation of Professional Diving Instructors”.
It is the largest recreational scuba diving training organization in the world founded in 1966 by John Cronin and Ralph Erickson. Cronin was a coach at another organization before deciding to form a private organization with Ericsson and forming diving courses based on a globally unified basis at the time. The PADI courses are divided into several levels; such as , scuba diver and an open water diver into Diver Master. For each level, there is a special certificate and license given to the trainees to allow them to dive anywhere in the world. It also includes courses for diving professionals such as diving instructors and trainers to a trainer of trainers. In addition to a set of certificates and courses that are given to the science and technology diving (technical diving) DSAT, including deep diving and triplex gas mixture diving.