Key facts
- Accel-KKR will pay 235p per share for Eleco.
- The offer represents a premium of almost 75% to Eleco's closing price before the deal was announced.
- Eleco's board and major shareholders have backed the takeover.
- Accel-KKR specializes in mid-market technology firms.
Eleco PLC, a London-listed construction software company, has agreed to a £207.6 million cash takeover by US private equity firm Accel-KKR. Shareholders will receive 235p per share, representing a premium of almost 75% to the company's closing price before the deal was announced. The board of Eleco, advised by Stephens, has unanimously backed the offer and plans to recommend it to investors. Major shareholders, including Allen & Co and members of the founding Ketteley family, have already committed their support for 45.2% of the company's shares. Accel-KKR, which focuses on mid-market technology firms, stated it would support Eleco's future growth. The transaction is anticipated to be completed in the first quarter of 2027, pending shareholder and regulatory approvals.