On 10 September 2026, Avocet Bidco Limited, a company to be indirectly owned by funds managed or advised by Accel-KKR, announced a recommended all-cash offer for Eleco plc.
Under the announced terms, Eleco shareholders would receive 235 pence in cash for each share if the acquisition became effective.
The offer values Eleco's entire issued and to be issued share capital at approximately £207.6 million on a fully diluted basis and implies an enterprise value of £192.4 million.
The price is a premium of approximately 74.7% to Eleco's closing price of 134.5 pence on 9 September 2026.
At the announcement date, shareholders representing 45.2% of Eleco shares supported the offer through irrevocable undertakings and letters of intent.
The acquisition is to be implemented by a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006.
Primary source
Accel-KKR (RNS via Investegate) ↗
Written for Rainmakrr from the source above. The announcement was published 10 September 2026.