Accel-KKR has agreed to take Eleco, the London-listed construction software group, private in a recommended all-cash deal valuing the company at approximately £207.6m. Shareholders will receive 235p per share, a 74.7% premium to the closing price on 9 September. The take-private will be implemented through a court-sanctioned scheme of arrangement, expected to complete by Q1 2027. Accel-KKR will fund the purchase entirely with equity.

Holders representing 45.2% of Eleco's shares have committed support, including a 23.4% block held by Allen & Co and the Ketteley family. The approach was unsolicited, with due diligence beginning after a confidentiality agreement on 21 July.

"Eleco has built a leading construction technology platform," said Maurice Hernandez, managing director at Accel-KKR. The firm intends to back Eleco's shift to SaaS and AI features, and sees scope for bolt-on acquisitions.

Eleco's board unanimously recommended the offer. Mark Castle, non-executive chair, said the company had transformed from building products to a specialist software provider. Eleco reported £38.8m revenue for 2025, up 20%, with adjusted EBITDA of £10.2m. Annualised recurring revenue rose 29% to £34.3m, representing 81% of total revenue.