NEW YORK and LONDON, May 5, 2026 /PRNewswire/ -- Long Path Partners, LP ("Long Path" or "LPP"), a U.S.-based investment manager, today announced that Frankel UK Bidco Limited ("Frankel"), a newly formed company indirectly owned by funds managed by Long Path, has completed its acquisition of Idox plc ("Idox" or "the Company"), a leading UK provider of specialist information management software and geospatial data solutions to the public sector and regulated industries.

Under the terms of the transaction, Idox shareholders are entitled to receive 71.5 pence in cash for each Idox share they hold, valuing Idox at approximately £339.5 million on a fully diluted equity basis. The offer price represented a premium of approximately 26.8% to the closing price of Idox shares on October 27, 2025, the last business day prior to the initial announcement of the transaction, and a 29.3% premium to the one-month volume-weighted average price over the same period.

The acquisition, originally announced on October 28, 2025 and subsequently implemented as a contractual takeover offer under the UK Takeover Code, received the overwhelming support of Idox shareholders representing well in excess of the acceptance threshold required for the offer to become unconditional.

A Partnership for the Next Phase of Growth

For more than 25 years, Idox has served as a trusted technology partner to local authorities, regulators, and industrial clients, delivering mission-critical software that underpins planning, building control, environmental health, licensing, elections management, and engineering information management. Today, more than 90% of UK local authorities rely on Idox software to deliver core public services to their citizens.

Leadership Commentary

Kyle Warren and John Cresson, who co-lead Long Path's private equity strategy, said:

"We are thrilled to partner with the Idox team to steer the company through its next phase of growth. Our public funds have been Idox shareholders for nearly eight years, and closing this transaction is the culmination of a long-held conviction in the business. Idox has demonstrated a remarkable ability to deliver world class, mission-critical software solutions to government and government-adjacent customers in the UK and around the world. In close partnership with the management team, we intend to invest meaningfully in the product roadmap, customer experience, and the next generation of AI-enabled capabilities, building an even stronger Idox to partner with its customers over the decade ahead."

David Meaden, Chief Executive Officer of Idox, said:

"Idox exists to help public and private sector customers use software and data solutions to operate more effectively, providing critical services for the communities that depend on them. Long Path has been a thoughtful, long-term shareholder who has understood our business and our mission from the outset, and they are the right partner for the next chapter. With their backing, we will continue to invest in developing our people, our products and services to bring customer value. This next chapter allows us to accelerate the innovation our customers need while preserving the reliability and domain expertise that have defined Idox since its founding."

Advisors

Kirkland & Ellis LLP and Ropes & Gray LLP served as legal counsel to Long Path. Canaccord Genuity Limited served as financial advisor to Long Path. Rothschild & Co served as financial advisor to Idox, and Pinsent Masons LLP served as legal counsel to Idox.

About Long Path Partners

Long Path Partners is a U.S.-based investment manager focused on long-term partnerships with, and investments in, high-quality, durable businesses around the world. The firm makes concentrated, long-duration investments across public and private markets, emphasizing business quality, alignment with management teams, and a collaborative approach to creating enduring value for all stakeholders. For more information, visit www.longpathpartners.com.

About Idox plc

Idox is a leading supplier of specialist information management software and geospatial data solutions to the public sector and regulated industries in the UK and internationally. The Company's software supports mission-critical workflows across planning, building control, environmental health, licensing, elections, land and property, and engineering information management. Idox serves more than 90% of UK local authorities, together with central government agencies, regulators, and blue-chip commercial customers in sectors including energy, transport, and engineering. For more information, visit www.idoxgroup.com.