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Air Liquide has sold Aqua Lung, a diving equipment maker founded by French deep-sea explorer Jacques Cousteau and Air Liquide engineer Émile Gagnan, to Montagu Private Equity. The 70-year-old firm has annual sales of more than $200 million and 1,000 employees. Air Liquide says it wants to focus on integrating the industrial gases firm Airgas, which it recently purchased for more than $10 billion.
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