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MHA Corporate Finance has advised the shareholders of Recoup on the group’s sale to Kohler Showers Holdings Limited, the parent company of Mira Showers (Kohler Mira).
MHA said the acquisition builds on Kohler Mira’s “considerable” expertise in showering innovation and expands its offering at a landmark moment as developers seek to comply with the government-set SAP targets set by the Future Homes Standard, and consumers seek to reduce energy costs and enhance the sustainability of their homes.
Norfolk-based Recoup was founded in 2011 and has since established key relationships with numerous national housebuilders. Its products are already found throughout the UK in many new housing developments, hotels, sports facilities, and student accommodation.
James Lawson, MHA Corporate Finance lead advisory M&A partner said: “Having worked extensively with the shareholders to pinpoint attributes of the ‘right’ strategic partner for Recoup, and to position an optimal deal structure, it has been hugely gratifying for the MHA team to lead the negotiation and delivery of the transaction working opposite Kohler Co’s US M&A team.
“Recoup’s product offering and business culture are the embodiment of the ESG zeitgeist – we fully expect the business and its team to flourish in partnership with Kohler.”
In respect of MHA’s services, co-founders Ian Steward and Kieron Dudley added: “The collaboration, professionalism and proficiency of James & George at MHA has been second to none. They supported and guided us through the entire process, enabling us to make positive and strategic decisions whilst still being able to focus on our operational business goals.
“Their experience and communication proved to be invaluable in creating a smooth pathway to completion with the excellently suited Kohler Mira, with whom we are hugely excited to work with as we take Waste Water Heat Recovery to the next level and beyond.”
