MHA | MHA Corporate Finance Team advises on sale of Recoup to Kohler…

MHA Corporate Finance Team advises on sale of Recoup to Kohler Co

May 10th 2023
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MHA Corporate Finance (“MHA”) has advised the shareholders of Recoup Energy Solutions Ltd (“Recoup”) on its sale to Kohler Mira.

Recoup distributes an innovative range of certified Waste Water Heat Recovery systems which enhance sustainability and energy efficiency. Recoup has been acquired by Kohler Showers Holdings Limited the parent company of Mira Showers (“Kohler Mira”), itself owned by US group Kohler Co, the international world leader in bathroom design since 1873. 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 to enhance the sustainability of their homes.

Norfolk-based Recoup was founded in 2011 with the sole aim of offering the UK’s most efficient and diverse range of waste water heat recovery systems. Recoup has established key relationships with numerous national housebuilders, and its products are already found throughout the UK in many new housing developments, hotels, sports facilities, and student accommodation.

Emma Foster, Managing Director of Kohler Mira, said:

The acquisition of Recoup is an exciting and important step in our strategic plan to offer our customers a larger suite of exceptional, sustainable products and further reinforces our commitment to pioneering environmentally friendly change through our products and services.

“With over ten years’ experience in Waste Water Heat Recovery products, Recoup has developed a strong reputation in its field, as Mira has for showering, and its portfolio of products will complement our existing business – we are extremely excited to bring Recoup into the Mira family and can’t wait to see where this takes us.

Kieron Dudley, Co-Founder of Recoup, added:

Mira Showers is one of the most recognised and trusted consumer brands in the UK showering market, and we are delighted to join forces with them to deliver effective and sustainable products that benefit customers and the environment simultaneously. We were very impressed with Mira’s history of bringing innovation to the bathroom industry to improve their customers’ showering experience in a more sustainable way and look forward to working together to develop these further.

James Lawson, MHA Corporate Finance lead advisory M&A partner remarked:

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, commented:

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.

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