Roper Technologies to sell majority stake in PAC and their industrial businesses

Roper Technologies, Inc. has agreed to sell a majority stake in its industrial businesses, including the globally renowned PAC - manufacturers of lab and process analysers for gas chromatography (GC) , elemental analysis and physical properties for GC, - along with Alpha, AMOT, CCC, Cornell, Dynisco, FTI, Hansen, Hardy, Logitech, Metrix, Roper Pump, Struers, Technolog, Uson, and Viatran, to affiliates of Clayton, Dubilier & Rice, LLC (“CD&R”). 

Roper will receive in the region of $2.6 billion upfront, pre-tax proceeds while keeping hold of a 49% minority stake in the new company. These businesses generated approximately $940 million of revenue collectively and $260 million of earnings before interest, taxes, depreciation, and amortisation.

According to Neil Hunn, President and CEO of Roper Industries, “This is the final step in Roper’s divestiture strategy to reduce the cyclicality and asset intensity of our enterprise. We have created a meaningfully enhanced and higher-quality go-forward portfolio of market-leading businesses that is better positioned to deliver higher and more resilient organic growth, an improved working capital profile, and strong cash conversion.”