Accel-KKR agrees £207.6 million takeover of Eleco

Accel-KKR agreed to acquire Eleco plc for 235 pence in cash per share, an offer announced on September 9, 2026. Eleco shareholders approved the takeover on October 28. The offer values Eleco at about £207.6 million on a fully diluted basis and represents a 74.7% premium to the closing price before the bid was announced.

The implied enterprise value is £192.4 million, or 20.2 times Eleco's EBITDA for the 12 months to 31 December 2025. Eleco, founded in 1895 and listed in London since the start of World War II, now focuses on software for the building lifecycle through brands including Eleco, BestOutcome and Pemac.

Eleco reported that recurring revenues were 81% of total revenue last year, with revenue up 20% to £38.8 million and adjusted EBITDA up 32% to £10.2 million. Accel-KKR's Maurice Hernandez said the firm looks forward to partnering with the Eleco team to support its next phase of growth.