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London, 7 July 2025 – UK-based precision measurement firm Spectris plc has agreed to a £4.1 billion cash takeover by private equity giant Kohlberg Kravis Roberts (KKR), withdrawing its prior recommendation for a competing offer from Advent International.
KKR’s bid of £40 per share, including a 20p dividend, values Spectris at £4.7 billion including debt, surpassing Advent’s earlier offer of £37.63 per share, which had valued the company at approximately £3.8 billion. The Spectris board unanimously endorsed KKR’s proposal, citing its superior valuation and strategic alignment.
“KKR’s offer provides attractive and immediate cash value for shareholders and a compelling vision for the future of the group,” said Mark Williamson, Chair of Spectris.
Spectris, listed on the FTSE 250, specializes in high-precision instruments and industrial software for sectors including pharmaceuticals, semiconductors, aerospace, and life sciences. The company reported £1.3 billion in sales and £203 million in earnings last year, and employs 7,400 staff across 30 countries.
KKR first approached Spectris on 2 June 2025, and has pledged not to implement large-scale job cuts, though it acknowledged ongoing internal restructuring aimed at achieving £30 million in savings by year-end.
The acquisition is expected to close by early 2026, pending regulatory approvals in the UK, EU, US, and China. Upon completion, Spectris will be delisted from the London Stock Exchange and integrated into KKR’s Project Aurora Bidco.
For further details, see The Standard’s coverage and Investomania’s report.
