Air Liquide Completes the Sale of Aqua Lung to Montagu Private Equity

December 30, 2016

Air Liquide announced today that it has completed the sale of Aqua Lung, a key player in personal aquatic equipment for recreational and professional use, to Montagu Private Equity, a leading European private equity firm. Montagu will support Aqua Lung’s next phase of growth and enable the company to deliver on its strategy.

Air Liquide is focused on its Gas & Services activities following the Group’s acquisition of Airgas, as well as on the implementation of its company program NEOS for the 2016-2020 period.

The terms of the transaction have not been disclosed.

Present in around 90 countries with approximately 1,000 employees, Aqua Lung is a key player in personal aquatic equipment for recreational and professional use. Founded in 1946, Aqua Lung is a historical expert in SCUBA diving and has expanded its offering to complementary areas such as swimming, aqua fitness and free diving. In 2015, Aqua Lung generated approximately €200 million in revenue.

Montagu Private Equity is one of Europe’s leading private equity firms. Founded in 1968, Montagu can look back on more than 45 years’ experience in investing in more than 400 transactions. Montagu has a strong track record of supporting portfolio companies, dedicating significant resources to management teams as well as providing additional capital expenditure to fund further growth. Montagu also has considerable expertise helping businesses to accelerate their growth in their home markets as well as to internationalize and expand their customer base. The firm has assets under management of just over €5 billion.