Roper Technologies, Inc. completed the acquisition of Procare Software, LLC from Warburg Pincus LLC, TA Associates and others.
February 28, 2024
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Roper Technologies, Inc. (NasdaqGS:ROP) reached a definitive agreement to acquire Procare Software, LLC from Warburg Pincus LLC, TA Associates and others for $1.9 billion on January 22, 2024. The purchase price of approximately $1,860 million, contemplates a net present value tax benefit of approximately $110 million. The net purchase price represents approximately 18 times Procare?s estimated EBITDA for the twelve months ending March 31, 2025. Procare?s management team will continue to lead the business from its Denver, Colorado headquarters. Procare?s name, brands, and office locations will not change as a result of the transaction. Roper anticipates funding the transaction using its revolving credit facility. The transaction subject to regulatory approval and customary closing conditions and is expected to close later this quarter. This acquisition is expected to close in the first quarter of 2024. The transaction is expected to be accretive to Roper?s 2024 free cash flow and 2025 adjusted DEPS and Roper expects Procare to deliver long-term mid-teens organic revenue growth.
William Blair & Company, LLC served as lead financial advisor and Raymond James & Associates, Inc. served as a financial advisor to Warburg Pincus. Keri Schick Norton, Jai Agrawal, David Grenker and Vivek Ratnam of Kirkland & Ellis LLP served as legal counsel to Warburg Pincus. Bill Zawrotny of Jones Day acted as legal advisor to Roper Technologies, Inc.
Roper Technologies, Inc. (NasdaqGS:ROP) completed the acquisition of Procare Software, LLC from Warburg Pincus LLC, TA Associates and others in February 2024.
Roper Technologies Inc. is a diversified group organized around 4 families of products:
- scientific and industrial imaging products (29.7% of net sales): digital imaging products and software, medical products, handheld and vehicle mounted computers, etc.;
- industrial technology products (29.6%): industrial pumps, flow measurement and metering equipment, industrial valves and controls, equipment for materials analysis, etc.;
- radio frequency products (28.5%): toll systems and traffic control devices, security and access control systems, campus card systems, mobile asset tracking systems, remote temperature monitoring systems, etc.;
- energy and control systems (12.2%): control systems, fluid properties testing equipment, sensors, non-destructive inspection and measurement instruments, etc.
ROPER TECHNOLOGIES, INC. 
