Inverness Graham‐backed Kalkomey Acquires RAID

Philadelphia, PA, June 11, 2018 – Inverness Graham, a private investment firm based in suburban Philadelphia, announced today that its online safety certification company, Kalkomey, has acquired Rebreather Association of International Divers AB (“RAID”). Based in Australia, RAID provides both recreational and professional scuba training and certifications for individuals and instructors. RAID’s courses are delivered online through the its proprietary platform and the training is completed in the water with the Company’s dive shop partners located globally.

“RAID is the third add‐on acquisition for the Kalkomey platform,” stated Michael Morrisey, Managing Principal of Inverness Graham. “RAID will leverage Kalkomey’s strong content production, software development and digital marketing capabilities to accelerate growth. RAID presents an opportunity to further expand Kalkomey’s addressable market and further diversify its product offering.”

“We are excited to partner with the team at RAID,” added Jason Alexander, CEO of Kalkomey. “We believe there are significant opportunities to leverage Kalkomey’s infrastructure and Agency Management System (“AMS”) to support RAID’s distributors and dive shop customers. We look forward to continuing to provide our global customer base with the best‐in‐breed online safety training certification platform.”

Terms of the acquisition were not disclosed.