Montagu Private Equity’s Acquisition of Aqua Lung

Weil, Gotshal & Manges, Cleary Gottlieb Steen & Hamilton, Bredin Prat, Creel Abogados and White & Case advised on the deal.

Air Liquide 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.

Weil, Gotshal & Manges LLP advised Montagu Private Equity with David Aknin (Picture), Shayla Harlev, Ted Posner, James Clarke, Edouard de Lamy, Theodore Tsekerides, Marc Lordonnois, Guillaume Bonnard, Adrien Coulaud, Alexandre Groult.

Cleary Gottlieb Steen & Hamilton advised Montagu Private Equity with Brian Byrne, Elaine Ewing, Matthew Bachrack, Morgan Mulvenon, Priya Bhanu, Álvaro Fomperosa Rivero and Christopher Wetzel.

In Mexico, Creel Abogados advised Montagu Private Equity with Alfonso Razú A., Ilse Bolaños A. and Santiago Miñón M.

Bredin Prat advised Air Liquide with Sophie Cornette de Saint-Cyr, Kate Romain, Sébastien Prat, Marc Pittie, Pierre-Henri Durand, Valérie Landes, Jean-Damien Boulanger, Julien Bourmaud-Danto, Florent Veillerobe, Camille Vardon and Timur Celik.

Involved fees earner: Alfonso Razú A. – Creel Abogados; Ilse Bolaños A. – Creel Abogados; Sophie Cornette de Saint Cyr – Bredin Prat; Kate Romain – Bredin Prat; Sébastien Prat – Bredin Prat; Florent Veillerobe – Bredin Prat; Marc Pittie – Bredin Prat; Valérie Landes – Bredin Prat; Camille Vardon – Bredin Prat; Pierre-Henri Durand – Bredin Prat; Timur Celik – Bredin Prat; Jean-Damien Boulanger – Bredin Prat; David Aknin – Weil; Shayla Harlev – Weil; Guillaume Bonnard – Weil; Adrien Coulaud – Weil; Ted Posner – Weil; James Clarke – Weil; Edouard de Lamy – Weil; Alexandre Groult – Weil; Theodore Tsekerides – Weil; Marc Lordonnois – Weil; Brian Byrne – Cleary Gottlieb Steen & Hamilton; Elaine Ewing – Cleary Gottlieb Steen & Hamilton; Matthew Bachrack – Cleary Gottlieb Steen & Hamilton; Morgan Mulvenon – Cleary Gottlieb Steen & Hamilton; Priya Bhanu – Cleary Gottlieb Steen & Hamilton; Alvaro Fomperosa Rivero – Cleary Gottlieb Steen & Hamilton; Christopher Wetzel – Cleary Gottlieb Steen & Hamilton;

Law Firms: Creel Abogados; Bredin Prat; Weil; Cleary Gottlieb Steen & Hamilton;

Clients: Montagu Private Equity; Air Liquide;