Spectris Backs £4.4bn Advent Bid Amid KKR Interest
Deal News | Jun 23, 2025 | Business Cloud
US-based Advent International is closing in on acquiring UK-based Spectris plc for £4.4bn. The deal, which Spectris has recommended to its shareholders, requires 75% shareholder approval. Rival private equity giant KKR is also interested in Spectris, having engaged in constructive discussions with its board since a proposal submitted in June 2025. While KKR has not made a revised proposal, they are in the advanced stages of due diligence. Advent's offer stands at 37.63 per Spectris share, including a cash component and a proposed interim dividend. Spectris operates two divisions, Spectris Scientific and Spectris Dynamics, focusing on advanced measurement techniques and precision testing solutions, respectively. The board of Spectris acknowledges Advent's substantial premium over its share price and expects the acquisition will further enhance the company's operations under Advent's ownership.
Sectors
- Private Equity
- Manufacturing and Industrial Technology
Geography
- United Kingdom – Spectris plc is based in London, UK.
- United States – Advent International and KKR, the private equity firms involved, are based in the US.
Industry
- Private Equity – The article discusses acquisition interests by private equity firms Advent International and KKR in Spectris.
- Manufacturing and Industrial Technology – Spectris operates in sectors like pharmaceuticals, semiconductors, automotive, and advanced materials through its divisions Spectris Scientific and Spectris Dynamics.
Financials
- £4.4bn – The offer value by Advent International for acquiring Spectris.
- 37.63 per Spectris share – Advent International's offer price per Spectris share, including cash and proposed interim dividend.
- 84.6% – The premium offered by Advent International on Spectris' undisturbed share price.
- £776.7m (Spectris Scientific) and £501.7m (Spectris Dynamics) – Annual sales of Spectris' two divisions.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Spectris plc | Target | Company | A UK-based company specializing in advanced measurement and testing solutions. |
| Advent International | Bidding Company | Private Equity Firm | A US-based private equity firm making a firm offer to acquire Spectris. |
| KKR | Bidding Company | Private Equity Firm | A US-based private equity firm also interested in acquiring Spectris. |