BRS & Co. Acquires Majority Control of Shearwater Research Inc.

New York — April 30, 2021 — BRS & Co. (“BRS”), a New York-based private equity firm, announced that it has acquired majority control of Shearwater Research Inc. (“Shearwater” or the “Company”), a market leading innovator, designer and manufacturer of high-quality dive computers and rebreather electronics serving the technical diving market.

Headquartered in Richmond, BC and founded in 2004 by Bruce and Lynn Partridge, Shearwater designs powerful dive computers with simple, intuitive user interfaces, and through fanatic customer service, technical excellence, and extensive innovation, the Company has become a global market leader in the dive computer industry. The Company’s products are sold globally in 90 countries through a network of over 550 dealers and specialty dive shops, and directly to rebreather OEMs.

Jim Hartt, Shearwater’s CEO, said, “BRS’s experience and knowledge of bringing enthusiast consumer brands to a broader audience will be valuable as we seek to reach more customers with new products.”

Rashad Rahman, BRS Managing Director, said, “The Partridges and the senior management team of Shearwater have built a brand that is highly sought after by the most demanding divers in the world. Shearwater has become synonymous with superior design and innovation within the technical diving market. We are honored to partner with the Partridges and senior management to help Shearwater achieve its mission and objectives.”

About BRS & Co.

BRS is a New York based private equity investment firm with combined capital invested of $1.2 billion, focused on investing in lower middle market consumer goods and services businesses. Since 1996, BRS has purchased over 50 portfolio companies for aggregate consideration of over $6.9 billion. In addition, BRS portfolio companies have completed over 40 add-on acquisitions. For more information, please visit www.brs.com.