Barings, an investment manager, agreed to acquire Aqualung Group, a designer, manufacturer and seller of scuba diving equipment for recreational and professional use, from Montagu, a private equity firm. Financial terms were not disclosed. "This acquisition opens a new page in the 80-year-long history 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," Michel Abaza, Aqualung Chairman and CEO.