Acal BFi Group acquired by STELIAU TECHNOLOGY
Context
French distributor Steliau Technology Group executed a definitive agreement on June 1, 2026, to acquire British electronics supplier Acal BFi, finalizing the complete exit of Dutch private equity sponsor H2 Equity Partners. The exiting financial sponsor had initially acquired control of the Wokingham-based target in March 2022 for an estimated consideration of £50 million. The current transaction incorporates a commercial perimeter generating additional sales of €200M, pushing the consolidated turnover of the newly formed pan-European group beyond the €750 million threshold. The financial structuring of this buyout relies on a combination of senior debt facilities, existing balance sheet cash, and an equity reinvestment from Astorg. This private equity firm has controlled the French acquirer since 2024, following a €211 million buyout from B&Capital. Directed by Steliau chief executive Pascal Reynoud, this sixteenth strategic add-on (build-up) connects the group's historical footprint across Italy, France, the Benelux, Spain, and Eastern Europe with the Northern European and United Kingdom markets covered by the teams of Acal BFi chief executive Paul Webster. The two entities merge their respective portfolios of digital signage, interfaces, and embedded computing systems to supply industrial original equipment manufacturers operating within the medical, railway, and defense sectors. The management team, supported by Astorg managing director Adrien Celdran, plans to reach the one billion euro revenue mark within eighteen months and is currently preparing the execution of three smaller bolt-on acquisitions prior to the summer period. On the sell-side structuring of the divestment, the exiting shareholders of Acal BFi retained investment bank Stifel as exclusive financial advisor. Final execution of the ownership transfer is scheduled for the second half of 2026, subject to the clearance of standard regulatory conditions.
It is worth noting that the fund H2 Equity Partners took control of Acal Bfi Group through an LBO in 2021.
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Target
Acal BFi Group is a pan‑European supplier of design‑oriented electronic components, embedded‑system platforms and value‑added engineering services. Headquartered in Wokingham, United Kingdom, the group operates through a network of subsidiaries across the United Kingdom and continental Europe. Its portfolio comprises advanced semiconductor and passive components, custom‑engineered sub‑systems, and complete embedded computing solutions for industrial, medical, defence, transportation and advanced‑technology applications. Acal BFi combines component distribution with in‑house design‑in support, system integration and long‑term technical partnership, enabling original equipment manufacturers to progress from concept through to production. The group’s engineering capability is reinforced by the 2024 integration of Impulse Embedded Limited and Arcobel Embedded Solutions, which augment its expertise in industrial and embedded computing. Since its foundation, Acal BFi has pursued a strategy of organic growth complemented by selective acquisitions, strengthening its technical know‑how and expanding its market reach. The organization maintains close collaborations with OEM R&D teams, providing application‑specific engineering, customization, assembly and full‑system integration. Its supplier relationships span major global component manufacturers, granting customers access to a broad, vetted component base. The combined geographic footprint covers key European markets, delivering responsive, localized service while leveraging a unified European supply chain.
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FREE VIEWOther operations with Acal BFi Group
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 11/2021 | H2 Equity Partners | Acal BFi Group | UNITED KINGDOM | Electronic Components |
REFERENCES
Revenue range: 150M - 250M EUR
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Press release: view release
Target: acal bfi group
Acquirer: steliau technology