DP Scandinavia
The company today
DP Scandinavia and its wholly owned subsidiary Poseidon Diving Systems (Poseidon) develop, sell and market equipment for demanding commercial divers and advanced sport divers. One of the strongest brands in the industry, Poseidon was acquired in 2006 by DP Scandinavia AB, which appointed a new management and provided new development resources.
Industrifonden invested SEK 9 million in DP Scandinavia in 2007, becoming its largest owner. DP Scandinavia expects to greatly expand the business thanks to the new capital.
- “We believe strongly in DP Scandinavia’s expansion opportunities and ability to satisfy the growing diving market’s demand for new innovations. With its strong brands and solid reputation, the company is well positioned for new investments,” said Thomas Carlström, Investment Manager at Industrifonden in Göteborg, in connection with the investment.
Background
Poseidon was founded in 1958 by Ingvar Elfström with the goal of developing and manufacturing market-leading diving equipment that was functional and innovative. In 2006 DP Scandinavia acquired the company, which primarily comprised a number of development projects.
Ingvar Elfström is considered a pioneer in the diving industry and the man behind such products as the single-hose regulator, the wetsuit and the dry suit.
What did Industrifonden offer?
In connection with DP Scandinavia’s acquisition of Poseidon, Industrifonden’s management decided to provide it with additional financial resources for major development projects.
With its financial muscle and experience in technology projects, Industrifonden was considered an attractive partner.
“Thanks to the stock offering, Poseidon now has the resources to fully fund its marketing and product development,” said Poseidon’s CEO, Kurt Sjöblom, in connection with the share issue in 2007.
Next step
DP Scandinavia’s newest product was launched at a diving show in October 2007 and is expected to reach market by mid-2008. This new rebreather recirculates exhaled air and is lighter than today's commercial equipment, allowing divers to stay below the surface longer.
Future outlook
DP Scandinavia and its subsidiary Poseidon will profitably grow and more than double its revenues within a five-year period.