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Barings takes over legendary Aqualung brand

ByMarcin Pawełczyk

Published: July 6, 2023 - 12:19

Updated: July 23, 2023 - 02:44

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Leading investment management brand, Barings, has entered into discussions to acquire 100% of Aqualung Group.

About the takeover

The transaction is expected to enable Aqualung to strengthen the transformation process initiated in 2023 following the appointment of a new management team led by Bruno Cercley and the launch of the ” Horizon 2027” plan.

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All key stakeholders, including Barings as shareholder, as well as lenders to the Aqualung Group, have officially approved the definitive agreement that marks this significant capital development.

The entire acquisition is scheduled to close in the third quarter of 2023, following receipt of the required regulatory approvals. The final amount of the entire deal has not been announced.

Stakeholder comments

We are delighted to continue our longstanding partnership with Aqualung, a global historical leader in its markets, renowned for its strong brands and diverse range of technical products, through this new and major role. We have full confidence in the Group’s capabilities and are committed to reinforcing our operations together, injecting a fresh impetus into sales. We have full trust in the management as they have demonstrated decisive expertise and unwavering dedication. With this shared vision and collaborative approach, we look forward to achieving new milestones and driving further success – said Benjamin Gillet, Managing Director Global Private Finance at Barings.

After six years of consistent support from Montagu as the company’s shareholder since the takeover from Air Liquide in 2016, the Aqualung Group is entering a new era focused on accelerating its development with a shareholder that possesses deep knowledge of the company. I am thrilled that we have taken this initial step and excited to lead the continuous improvement plans we have implemented and coordinated for over ten months in this new environment – said Bruno Cercley, President and CEO of Aqualung Group.

About author

Marcin Pawełczyk

Marcin’s journey with diving has been an adventure. Starting as a recreational diver, he soon found himself drawn to the fascinating stories and mysteries of Baltic wrecks. After gaining experience, Marcin decided to go beyond just leisurely exploration and took his training up a notch by completing the TMX course, allowing him to explore even deeper and uncover the secrets of inaccessible places. His next challenge has been cave diving, where he is honing his skills to become a certified diver. Not content to simply take in the breathtaking beauty of underwater life, Marcin has also embraced underwater photography since 2018, capturing stunning shots that bring these worlds alive for those who are unable to experience them first-hand. Marcin’s passion for the underwater has taken him far and is sure to continue doing so as he dives into new depths and captures breathtaking images.