Shareholders gave the green light to a £207 million takeover of Eleco plc by private-equity firm Accel-KKR. The transaction values the target at roughly £207.6 million and suggests an enterprise worth of about £192.4 million.
Founded in 1895, Eleco has been listed on the London Stock Exchange since the early days of the Second World War. The company entered the built-environment software arena in the early 2000s and has since reoriented itself around software-centric offerings.
The bid proposes a cash payment of 235 pence per share, which represents a 74.7 percent premium to the closing price recorded the day before the offer was disclosed. This arrangement translates to a valuation of the firm at 20.2 times its EBITDA for the twelve months ending 31 December 2025.
As a specialist international provider of software and related services to the built environment, the group operates under the Eleco, BestOutcome, Pemac and Eleco Technologies brands. Its solutions aid project management, cost estimation, building information modelling (BIM) and property-management activities.
Accel-KKR said it has monitored the firm closely and believes it has reshaped its operations into a technology-focused business with a solid foothold in the building-lifecycle market. It also noted that the company has shifted its revenue model toward subscription and SaaS arrangements while preserving profitability.
In the most recent fiscal year, recurring revenues accounted for 81 percent of total sales, and annualised recurring revenue grew by 29 percent to £34.3 million. The group posted overall revenue growth of 20 percent, reaching £38.8 million, and saw adjusted EBITDA rise by 32 percent to £10.2 million. Maurice Hernandez, a managing director at Accel-KKR, remarked that the investor looks forward to working with the Eleco team to strengthen the existing platform and drive the next stage of expansion.
The approval of the deal follows a period of steady financial improvement, giving the new owners confidence that the subscription-driven model will sustain earnings growth. By combining the capital partner’s resources with the firm’s established client base, the partnership aims to accelerate product development and broaden market reach across Europe and beyond.
The combined entity is expected to leverage its expanded portfolio to offer integrated solutions that address the full lifecycle of building projects.
