We’re pleased to have supported an Essex-based water treatment company, which has joined a global group after being acquired by a UK subsidiary of Kinetico.
Genus Water was founded in 1999 to design, manufacture, supply and maintain domestic and commercial water treatment equipment, including water softeners, to customers from blue chip businesses to domestic households. Genus has grown to become the foremost supplier of water treatment to the UK commercial market.
It has now been acquired for an undisclosed sum by Kinetico UK, a subsidiary of the Kinetico group, which is a global leader in the water treatment industry, with more than one million systems in use in 100+ countries.
The strategic acquisition is designed to significantly strengthen Kinetico’s position in the UK commercial market, building on Genus Water’s success in the coffee vending and hotel segments, while also growing its share of the residential market.
“Joining forces with Kinetico is hugely exciting” said Karl Goodwin, Founder and Managing Director of Genus.
“We are proud of the growth we have achieved and are confident that we will be able to accelerate this thanks to the new resources and capabilities available to us as part of the Kinetico family. Just as importantly, I have been impressed with the values of the Kinetico team and see it as a great home for our customers and my team which I will continue to lead.”
Genus, which has 30 staff based in Rayne, Essex, was advised by Chris Adlam and Alex Hunton, both from our Corporate Finance team in East Anglia. Genus’ shareholders appointed FRP Corporate Finance based on the team’s ability to lead the sale and guide it through every stage of the transaction.
Chris Adlam, FRP Corporate Finance Partner, said: “The deal enables Kinetico to expand its offering in the UK, with the combined business in a strong position to grow in both the commercial and domestic markets. It means the founder can realise his investment following years of hard work whilst allowing Genus to push on as part of a larger platform with even greater resources to drive growth.”
Steve Goodwin, Kinetico UK Managing Director, said: “We are delighted to welcome Genus to the Kinetico family. Karl and his team have built the business on product innovation and service excellence, in complete alignment with Kinetico’s principles. We are thrilled to be coming together to offer our customers the best in total water care.”