PADI sold for $700 million

[seekerGH]

Interesting development....

"The Wall Street Journal on March 21 reported that Providence Equity, which has owned PADI, the world’s largest scuba-certifying agency, since 2015 has sold the company. PADI sold for an estimated $700 million USD. This amounts to a more-than-tripled initial investment over those few years.

It is understood that PADI sold to consortium, which purchased the agency via a holding company called Mandarinfish Holding. The Wall Street Journal reported that the interested buyers were drawn by PADI’s efforts to promote marine conservation, a point one could argue that PADI does not do enough of, but that’s another story all together."

http://scubadiverlife.com/padi-sold-700-million-usd/

 

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[ropesfish]

It will be interesting to see if there is a merger with one of the big equipment companies like Mare/Head & SSI not so long ago.

 

[seekerGH]

I suppose my feelings on this are a bit different.
This investment firm bought PADI in 2015 and a year later. sold it for 3 times their investment.

In the meanwhile, how and/or where did the end users, divers, benefit?

Did they further any development? Did they further any training or cert processes?

Did they do anything for the diving industry in that year, other than make about $500 million dollars?

 

[SADS 669]

No, the divers did not benefit, my instructor fee nearly doubled....

 

[ropesfish]

I don't think any certification agency/business is offering more service to the diver. If you lose your PADI card it costs $38 to get a new one...same price for either a hard card or an 'eCard'. Somehow services have become 'enhanced profitability opportunities" instead of "customer loyalty enhancers" . I was surprised back in the 80's when my banker admitted that banks make more money off overdrafts than they do loans, and that was when a OD charge was $7.50 instead of $30+ or whatever they are now. Business principles apparently have been pared down to one: "Make as much money as possible".
No matter what the name, Association, Brotherhood, School or Coven...they are all businesses. I've taken NAUI, SSI and PADI courses and assisted with an SDI class. I see a trend toward "less instruction time for more money" and a diminishing of the skills required for OW and AOW, then they offer a cert class for just about everything, including buoyancy control (one of the most important skills in diving) That's not good for anyone except the stockholders.
I fully expect to see this sort of advertising tactic any day now.

 

[CaptEsteban]

I was diving in Panama City once, & another diver onboard said that he had been a PADI instructor for over 20 years. He said that P.A.D.I. stood for " Pay And Dive Immediately !"

 

[agflit]

I've come to the realization that diving is headed the way of General Aviation here in the US...it's become so prohibitively expensive to actually LEARN to dive that it's becoming an "elitist" activity.
I have become so frustrated by the "standards" or maybe I should say lack thereof, that I am seriously considering not renewing my Dive Pro credentials...

I simply am not able to reconcile in good conscience what I feel a student NEEDS to master vs what actually passes muster as acceptable... I simply am not allowed the time and training a student requires to be safe, educated and aware in order to be proficiant and competent. It's EXTREMELY frustrating.
With the liability climate in North America, I simply cannot reconcile the ongoing liability exposure against the inability to monetize dive training... it COSTS me an average of 2k a year just to have the "priviledge" of being a dive pro.
I sure hope things get better..but I don't see it in the future...sighs.

ag

 

[old man]

Ag, When I was teaching. I used to require my students to complete 36 hours of classroom and pool work. Then they had to complete 2 quarry dives and a beach dive before I would certify them.
At least I was comfortable that they knew the basics before I sent them out on their own.
What are the minimum requirements today?
Sads669, would probably call me an old man.

 

[Boatlode]

Ag, When I was teaching. I used to require my students to complete 36 hours of classroom and pool work. Then they had to complete 2 quarry dives and a beach dive before I would certify them.
At least I was comfortable that they knew the basics before I sent them out on their own.
What are the minimum requirements today?
Sads669, would probably call me an old man.

That's the way it was when I got my NASDS basic cert in 1975 (I was 14). It was an 8 week course, one night per week, each night had two hours of classroom and 3 hours of pool work. Written exam on the last night. Then two quarry dives and a beach dive.

Last year I got my PADI AOW cert. It was classroom for one hour on Friday night, two shallow (32 ft) lake dives on Saturday (underwater navigation and search & recovery), and two deep wreck drift dives on Sunday (91 ft). That was it.

I agree, things have definitely changed.

 

[agflit]

Ag, When I was teaching. I used to require my students to complete 36 hours of classroom and pool work. Then they had to complete 2 quarry dives and a beach dive before I would certify them.
At least I was comfortable that they knew the basics before I sent them out on their own.
What are the minimum requirements today?
Sads669, would probably call me an old man.

Ed..you really don't wanna know. It's pretty sad imo... problem is, I'm not the shop owner. Lol...thought the owner was gonna stroke out bout 2 years ago when I had a student that I was unwilling to train due to "physical issues"...I simple finally told the owner I could not in good conscience, cert the person, and to due so would endanger the individual.
Sure glad I was in Mexico that weekend..I tried to warn them....sighs.

ag

 

[seekerGH]

When I started many years ago, I did SSI, as they actually did require more dives for the cert than NAUI or PADI.

We did 8 hours of class time, then a swim test, then a buoyancy test. There were 3 pool dives, then a shallow open water, then a deep (100') open water to get the cert.

Not sure what it is these days.

 

[CaptEsteban]

I agree with the above statements concerning the training [ or lack of ] for today's students. It took about 40 hours for the course when I took it, & 5 dives. The age requirements kept getting lower & lower , then classroom & pool time was reduced. I had to quit diving due to medical problems some years back,, & I would hate to see what a student may have to go through now to be " given " a card.

 

[CaptEsteban]

I am getting old, too.
i knew a lady whose husband wanted her to take lessons with him. She asked me about what all was involved, & wanted to know if she had to know how to swim !!!! I suggested she go to the YMCA & take swim lessons & get some experience . A few weeks later,, she told me she was " Certified !" I asked her about the swimming requirements & she said that she told the instructor that she couldn't swim. He told her to jump in the side of his backyard pool & " dog paddle " to the other side !!! Again, I suggested that she take swimming lessons !

INSTRUCTORS ;

I also would like to know ;

" What are the minimum requirements , today ??"

 

[Salvor6]

You take someone who can't swim, put a pair of fins on them and they can swim like a fish. When swimming with SCUBA gear, any arm movements actually slow you down. You're supposed to swim with your arms at your side.

 

[trescocos]

I was a PADI instructor for many years in the 80's and 90's. After having my students comprehend and pass the academic portions I would only certify them once I felt like they were competent in the water with and without fins. Sometimes it took alot of work but I can say I never signed someone off who couldnt handle himself/herself in moderate conditions. I can say most of my students were better beginning divers than many certified ones I divemastered for.. padi/naui/ssi etc is just a ticket to be able to buy air. Its up to the instructor to teach someone to dive to his standards and not bare minimum. Call me old school I guess but I dont think any of mine drowned later on. Back then I was an advocate for having different levels of basic certs. I cant remember how many certified divers I took out in the caribbean for a boat dive in choppy water who had only dove in a quarry! Not their fault but their eyes told me they werent ready for it!

 

[Honest Samuel]

Now, that is real money.

 

[Bum Luck]

I was taught to dive by Fritz B. who had PADI instructor number 13.

Does that make me an old guy?

There was a bunch of blowback about PADI so in those days when I finally in the 70s had to become officially certified to get air, I chose NASDS, which I thought was a better organization. Now SSI.