Providence Equity Partners is exploring a sale of the Professional Association of Diving Instructors that could value the company at about $1 billion, people familiar with the matter said.

The private equity firm is working with Deutsche Bank AG to find buyers for the Rancho Santa Margarita, California-based organization, said the people, who asked not to be identified because they weren’t authorized to speak publicly. A sale process is planned for the first quarter of 2017, the people said.

Providence, which bought a majority stake in PADI from private equity firm Lincolnshire Management in 2015, has focused on expanding the company in Asia, including in Indonesia and Malaysia, one of the people said. Asian buyout firms may be among interested bidders for the company, the people said.

More info: bloomberg.com/news/articles/2016-11-15/providenc...diving-courses-group

Comments

Jamiebruce - 6/20/2017 3:06 PM Back in the U.K., years ago, there was a standing joke regarding PADI. What does or stand for, Profession Association Diving Instructors, or (Put Another Dollar In).

BillParker - 3/23/2017 6:37 AM It sold for $700 million. wsj.com/articles/providence-equity-sells-scuba-c...0-million-1490129540 Greg - 3/23/2017 7:18 AM Unreal! Maybe I should have pursued their blatant ripoff of our Scuba Earth map a little harder.

ccr-megdvr - 3/14/2017 8:21 PM Someone thinks it is, just not me.

halfjacket - 2/26/2017 4:43 PM No Doubt PADI is a big org, not sure what makes them a 1 billion dollar company. Hope the sell is a plus for PADI members.

acantor20 - 2/21/2017 5:42 PM I can certainly believe it!

BillParker - 2/06/2017 11:19 AM Incredible.