A shower manufacturer has been taken over in a management buyout backed by private equity investors.

Westerham-based Aqualisa, which has a number of patents on its designs, plans to invest in new product development after the “significant” investment by LDC, a fund which puts money into mid-market businesses.

Founded in the 1970s, the company makes digital, mixer and electric showers which it sells through builders’ merchants, distributors, specifiers and showrooms.

Chief executive David Hollander will continue to lead the management team, with LDC Birmingham director Andy Lyndon and investment director Ben Snow joining the board.

As part of the deal, Steve Lee will join the board as non-executive chairman, bringing with him a wealth of experience in sector from his time with Bristan and Methven and as President of the Bathroom Manufacturers Association.

The deal sees LDC replace Aqualisa’s previous backers Sankaty Advisors LLC, an affiliate of Bain Capital, and RBS.

“Aqualisa is a great British success story, whose design and technology-led approach to manufacturing has driven innovation in the market for decades..." - Ben Snow, LDC

The firm, which has won a Queens Award and Corgi Product of the Year for its investment in research and development, launched the first digital shower in 2001 and introduced new wireless remote technology in 2005.

Mr Hollander said: “This is the start of an exciting new chapter in Aqualisa’s story, one that began in 1976 with a commitment to change the market for the benefit of owners, installers and trade customers.

“Partnering with LDC will allow the business to drive further growth through innovation and new product development, investing in our customers and channels, and capitalising on the strength of the Aqualisa brand, unlocking the potential that exists in the business.”

LDC’s Mr Snow added: “Aqualisa is a great British success story, whose design and technology-led approach to manufacturing has driven innovation in the market for decades.

“With a first-class management team, a clear roadmap for new product development, a market leading brand and a truly differentiated proposition, we’re hugely excited about the opportunity to achieve even greater scale and success in the years ahead.”

LDC has invested more than £300 million in 13 transactions, including events and exhibitions group NEC, insurance technology provider SSP, snacks brand Seabrooks and online travel agent Iglu.

It aims to invest £1.3 billion over the next three years.

Aqualisa’s management team was advised by Springboard Corporate Finance and CMS Cameron McKenna, and the sellers were advised by Catalyst Corporate Finance.

LDC was advised on the deal by PwC, CiL and Wragge Lawrence Graham & Co.

HSBC, advised by Gateley, provided banking facilities for the transaction.