Discussion in 'Q and A for Scuba Certification Agencies' started by Jim Lapenta, Aug 31, 2012.
NY Firm Inks Second Deal After Year-long Drought -peHUB
I don't have any idea what to think about this. I guess we'll just wait and see what the investment firm does or doesn't do.
Two thoughts occur to me:
First, PE companies rarely (never?) buy business to leave them alone. Expect change. Plenty of change. Possibly starting new avenues of business leveraging existing client base (which is extensive and global).
Second, I have a really hard time believing the PADI has annual revenues in the $50 million plus range ("[Lincolnshire] typically backs companies with revenues of around $50 million to $500 million"). However you slice the dice the numbers, there is just no frikkin' way that can be the case with PADI.
I don't think we'll see a huge change. Why? Because as was reported there, "PADI is in a steady business that has continued to do well despite the global recession". This is more of a safe bet for people to invest in when all else is becoming more risky.
For sure there will be some new ideas but the core business obviously works and if it ain't broke, don't go fixing it.
The article seemed to indicate that they were thinking primarily of expanding the reach of the agency even further than it is now. It is possible that those of us who are already in a highly served area will not see that much change right away. (Just guessing.)
Where do I sign up for my BAIN Speciality ?
From what I've read, they target "mid-market level" companies with a focus of moving them to the next level. Not necessarily a bad thing at all for PADI -maybe a bad thing for small scuba orgs.
All I can say is WOW!
Who cares! Isn't this Capatilisim at works?
Interesting ... probably why Brian Cronin "retired" just recently.
With PADI already the top agency, I wonder how they plan to expand it? It's already known world wide.
Would you believe they are going to do a complete overhaul of their training methods? A total reversal of the continuing trend of lowering standards. A complete 180 with a "back-to-basics" theme eliminating video instruction and requiring real classroom time and mandated student/instructor contact hours both in the classroom and the confined water portions of the class. A tightening of standards, an elimination of the eligibility for open water scuba certification for 10 yr olds.. I wouldn't.
So you really like PADI then, huh?
They're going interplanetary and looking to be the first SCUBA agency on Mars.
Now, all they have to do is find water deep enough to dive in on Mars and they will be good to go. And Martians.
OW could then lead to the Deep Space Specialty course.
OTOH, it sure beats teaching courses on Uranus.
Tables would need to be revised too to compensate for the different atmospheric pressure too
Whole load of new courses too, Mars OW, Mars AOW etc
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Having worked for two companies in the past that were owned by private investment groups, I have two different experiences, but the whole point of these private investments is to make the companies they buy more profitable with a view to sell them off again for a higher price later on.
they are going back to teaching tables???????
Possibly we'll have some new patches and specialty certs.
And higher fees.
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