Undersea Adventures IM

History & Ownership 2 History

2.1. The Company opened initially as a PADI dive centre in 1989 and has built its service offering and customer base over its almost 30 years of operation.

2.2. The Company now focuses primarily on the sale of dive training equipment, as opposed to lessons, and other water sports equipment and is ideally located along the south coast.

2.3. Over its years the Company has gained recognition for its unmatched level of product supply and attitude of meticulousness in its products.

2.4. The table below details the Company’s history:

Year

Event

1989

The Company was established in Cornwall as a scuba diving centre.

1995

UA moved to an industrial unit on the outskirts of Penzance.

The Company introduced GUL wetsuits to its product range and expanded further with many other top watersports brands including Crewsaver, Gill, Typhoon products.

1999

2002

The Company launched its new online shop with a wide range of products to purchase directly from the site.

After 14 years of operating the scuba diving and training side, UA decided it was time to switch the emphasis to the online shop, which is now the largest part of the business, and subsequently sold off the scuba diving and training side of the business.

2004

2005

The Company moved into its current premises in Hayle, Cornwall.

2009

UA installed a mezzanine floor at its premises to enable it to expand its stock holding.

2016

The Company introduced its online triathlon store to the business, effectively doubling its product range.

UA closed its triathlon store, as margins were becoming increasingly difficult due to competition from its own suppliers.

2018

7

Undersea Adventures | Information Memorandum