KKR & Co. has agreed to buy Spectris Plc in a deal that values the UK maker of precision and testing equipment and software at about £4.1 billion ($5.6 billion), surpassing an earlier bid by a consortium led by Advent.

KKR has pipped rival private equity firm Advent International to a takeover of UK industrial company Spectris with a £4.7bn offer that is one of the biggest recent deals for a London-listed business.

KKR & Co. (NYSE:KKR) has reached a deal to acquire Spectris (OTCPK:SEPJF), valuing the UK-based maker of precision instruments and testing software at approximately £4.1 billion ($5.6 billion), outbidding an earlier offer from a consortium led by Advent.