PADI (Professional Association of Diving Instructors) is the world leader in scuba diver training. More than 26 million people worldwide have learned to dive with PADI. When the company had to manage a change in ownership, Deutsche Bank searched the world to find a long-term partner with the same passion for the ocean.
PADI was created over 50 years ago by two friends who wanted to develop a system for anyone to learn how to scuba dive. Its training programmes produces comfortable, confident divers who are ready for underwater adventure.
When PADI needed new investment, it wanted a partner whose interest in the company was more than financial. Conservation has been part of PADI’s mission since day one. Its Pillars of Change programme activates the diver community to look after the ocean for the long run.
As PADI’s adviser, Deutsche Bank worked closely with the management team to understand what they were looking for. “It’s like a marriage. There has to be chemistry and fit between partner and management team,” explains Bob Kitts from the bank’s Global Banking, M&A and Advisory team.
Intensive due diligence on candidates from North America, Europe and China helped build the foundation for a successful relationship. Months of dialogue, marketing and negotiation secured a new long-term investor who shares PADI’s values and supports its commitment to be a force for good.
"We take a very hands-on approach with a client in an M&A situation"
Bob Kitts, Deutsche Bank
The company now has the stability and the resources to invest in its people, programmes and technology for the decades ahead. “We've got a great partnership here and we love that,” says PADI CEO Drew Richardson.
Since 2015 Deutsche Bank has advised on more than 640 M&A transactions globally with a combined value of EUR 1.4 trillion
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