KKR has secured an agreement to acquire FTSE 250-listed Spectris for £4.7bn ($6.5bn), edging out rival Advent International in one of the UK’s largest public takeovers of 2025 so far.

The US private equity firm’s all-cash offer of £40 per share, including dividends, represents a 6.3% premium over Advent’s earlier £4.4bn bid. Spectris’ board has withdrawn its recommendation for Advent’s offer and unanimously endorsed KKR’s superior proposal, which followed two previous unsolicited approaches from the firm.

The deal underscores the increasing pace of UK public-to-private transactions, as foreign private equity buyers take advantage of depressed valuations and limited investor enthusiasm on the London Stock Exchange.

Spectris is a global supplier of high-precision measurement and control technology, with a customer base spanning life sciences, pharmaceuticals, electronics, and industrial manufacturing. 

The acquisition enhances KKR’s portfolio with a strong-performing UK industrial asset and adds to the firm’s growing roster of European investments

Source: Reuters

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