HedgeCo.Net — Eleco plc and Avocet Bidco Limited, a newly formed vehicle backed by Accel-KKR, announced a recommended all-cash offer of 235 pence per share on September 10, valuing the AIM-listed built-environment software company at about £207.6 million on a fully diluted basis and implying an enterprise value of roughly £192.4 million. The price is a 74.7% premium to Eleco’s 134.5 pence close on September 9. Business Cloud and UK Investor Magazine independently printed the same 235 pence / £207.6 million fully diluted framing and the same Accel-KKR-backed Bidco structure.
The boards said the deal will be implemented by a court-sanctioned scheme of arrangement, with Eleco directors intending to recommend the offer unanimously. Shareholders representing 45.2% of Eleco shares have signaled support through irrevocable undertakings and letters of intent; directors holding about 0.5% have also irrevocably committed. Accel-KKR, cited with more than $23 billion in cumulative capital commitments, said it intends to support product development, the SaaS transition, and AI implementation and does not intend material headcount cuts. For the year ended December 31, 2025, Eleco reported revenue of £38.8 million (up 20%) and adjusted EBITDA of £10.2 million (up 32%), with recurring revenue 81% of total and cash of £16.3 million with no debt.
This is a recommended public-to-private cash bid, not a closed fundraise. Treat 235 pence, the £207.6 million equity value / £192.4 million EV, the 74.7% premium, and the 45.2% support block as announced terms. Do not invent a close date beyond the early-2027 targeting reported in secondary coverage, a financing package detail, or post-close EBITDA guidance. The allocator object is a mid-market software take-private inside construction-tech SaaS.