Head Group has entered into exclusive discussions regarding the potential acquisition of 100 percent of the Aqualung Group.
The contemplated transaction is subject to regulatory approvals and due legal process.

“Building on its existing portfolio in Winter Sports, Racquet Sports, Sportswear, and Water Sports, Head would significantly expand its brand portfolio beyond its established Water Sports brands that include Mares, SSI, rEvo, liveaboard.com, and Zoggs,” Head said in a media release.

Founded in 1943 following the co-invention of the Aqua Lung by Captain Jacques-Yves Cousteau and engineer Émile Gagnan, the Aqualung Group is reported to “be a pioneer with an unrivaled history and is a global reference in scuba diving equipment, distributing its products in over 90 countries.”

Head Group said the contemplated acquisition “aims to create a world-class global Water Sports market leader.” The company intends to maintain and develop the Aqualung Group and “reinforce its strategic and growing military and professional division.”

The Aqualung Group includes Aqualung, Apeks and Aquasphere brands, and a Military and Professional unit.

Head also said it plans to “build on Aqualung Group’s production capabilities to support the global production and distribution of premium products.” The combined expertise of the two companies would generate “strong synergies, accelerate market leadership and open new opportunities to broaden access to water sports worldwide.”

Head acquired Mares in 1971 and has evolved into a scuba diving sector brand. Head acquired SSI in 2014, becoming the No.1 diving certifier in Europe, and has “more than doubled in revenues since its acquisition.”

Zoggs, a swim brand founded in Australia, was acquired by Head in 2020 and has since seen “significant international growth, taking advantage of
Head’s global network.”

Victor Vadaneaux has been appointed CEO of Aqualung Group to ensure a smooth transition and integration. He has been a member of the group’s Supervisory Board and an advisor to the company since 2024.

The Aqualung Group has had a bumpy road for a few years. Air Liquide sold the company to Montagu Private Equity at the end of 2016. In 2022, a French court gave Aqualung a deadline to sort out its continuing operational and financial difficulties. Barings became part of a lending group to provide financial support to the debt-laden manufacturer. Barings LLC acquired the company in December 2023.

Aqualung’s relationship with the North American market began in 1950, starting with the distribution of the first on-demand regulator, the aqua-lung, a game-changer that “fueled the rise of recreational diving.”

After U.S. Divers Company was renamed Aqua Lung America, the name U.S. Divers was retained as a trademark for Aqua Lung’s line of snorkeling equipment. In April 2024, the company’s U.S. Divers snorkeling brand was sold to the California-based Aqua Master Sporting Technology Co., LLC.

The sale of U.S. Divers was said to be part of the Aqualung Group’s strategic business orientation to exit the Swim Snorkel Paddle business in North America initiated in 2023 and accelerate its transformation by focusing on its core markets: diving equipment and provision of equipment to Military and Professional customers.

“This strategic decision marks a new milestone for Aqualung Group and will enable the Group to reallocate human and financial efforts to developing the other Group’s brands, increasing investments in digitalization and research and technology and revitalizing the diving industry for younger generations,” the company said at the time.

“We are pleased to be selling our historical U.S. Divers brand to a California-based company,” offered Michel Abaza, chairman and CEO of Aqualung Group at the time. “Aqua Master Sporting Technology Co., LLC is committed to continuing the legacy and tradition of innovation of U.S. divers and is well-positioned to keep growing the business. For Aqualung Group, this marks another step in shifting our operations to our core businesses and strengthening further our leadership in the global diving industry”.

In December 2024, the Aqualung Group opened its new office in Miami, FL.

“This development reflects our restructured North American organization and underscores our ambition to strengthen our global leadership in diving equipment for recreational, military and professional use,” the company said at the time.

Aqualung Group moved the company’s North American office from California to Florida to be closer to divers and its partners. The North American region is reportedly the largest scuba diving market worldwide, representing 40 percent of Aqualung Group sales.

The largest U.S. business for the company is in Florida, which hosts some of the best dive spots in the U.S.

“This new ‘lung’ of the group will house our sales and marketing teams, led by Brent Beringhaus, along with a showroom to showcase the excellence of our products and a Technical & Training Center (TTC). A committed and enthusiastic team of 20 passionate people will offer the highest standards and support to our customers,” the company said in December 2024.

Image courtesy Aqualung