Paddlesports apparel and PFD maker Stohlquist, owned by France’s Aqualung Group, is shuttering its operations, with its future up in the air.
According to a December 2023 press release, investment banking firm Barings completed its acquisition of Stohlquist parent the Aqualung Group, a global leader in manufacturing diving equipment and high-performance water sports.
The Aqualung Group product portfolio includes an array of dive, swim, snorkel and paddling equipment brands including Aqualung, Apeks, Omer, Aquasphere, Military Professional, U.S. Divers and Stohlquist, with the “parent company deciding to exit the sporting goods categories in North America,” says Stohlquist’s Ryan Lightbody.
“It’s up in the air right now,” he said, “but as of now, Aqualung is basically ceasing operations of Stohlquist moving forward. I know that there are industry questions about the brand and interest in keeping it alive. People have been reaching out to see if it can continue, buying its IP, product inventory and other options. But they’re going to focus on Aqualung’s pro diving category, as well as military and professional dive lines.”
“This acquisition opens a new page in the 80-year long history of Aqualung Group,” said Michel Abaza, chairman and CEO of Aqualung Group. “The transaction provides Aqualung Group with the necessary financial resources to further accelerate its ongoing transformation in the coming years and continue to strengthen its position on its core markets, Dive and Military – Professional. Aqualung Group’s long-term commitment to innovation will accelerate, with a significant increase of its investments in digitization and research and technology.”
Aqualung Group pioneered the creation of modern diving equipment in 1943 when Jacques-Yves Cousteau teamed with Émile Gagnan to develop the first “aqua-lung” regulator that made underwater exploration possible. Today, the brand continues to be the leading global designer and manufacturer of dive and water sports gear for both recreational, military and professional markets. According to the release, the Aqualung Group has revolutionized the scuba diving and swimming experience by setting industry standards for consumers in technology, comfort, safety and design.
“We are thrilled to expand our partnership with Aqualung Group and are confident in its capabilities and strategy to accelerate sustainable growth and solidify its position as leader in the global diving industry,” said Benjamin Gillet, Managing Director Global Private Finance at Barings. “Aqualung Group is poised to renew the pioneering spirit ignited by Captain Cousteau eight decades ago, drawing upon its unique industrial and technical expertise and its established global brands. Aqualung Group considers the preservation of the oceans as its core purpose. As a global leader, Aqualung Group has a unique responsibility in revitalizing the diving industry for younger generations and to actively contribute to the preservation and responsible exploration of the seabed.”
With a successful line of both high-end and recreational paddleware, PFDs and more, Stohlquist was founded along the banks of Colorado’s Arkansas River in Buena Vista in 1977 by Jim Stohlquist, with its products the result of a lifetime of hands-on paddling, entrepreneurial spirit, craftsmanship and design experience. It was one of the first companies designing gear specifically for paddlers, with Jim one of the few original designers still left in the industry. In 2004, Stohlquist and Aqualung partnered to capitalize on the synergies each has in the personal flotation business, with Jim staying on board to steer the company via guidance on all new products.
Info: https://stohlquist.com/