Roper Technologies Inc. agreed to sell a majority stake in its industrial operations to affiliates of private equity firm Clayton Dubilier & Rice, wrapping a monthslong process as the manufacturer focuses on business lines with less cyclicality.
Roper will receive pretax cash proceeds of about $2.6 billion while retaining a 49% stake in the standalone entity, which includes its process technologies unit, according to a statement Wednesday. The deal is expected to close by the end of the year.
CD&R has been an active dealmaker recently, agreeing in April to buy a majority stake in Kindred at Home Hospice from Humana Inc. for about $2.8 billion. The firm also acquired WM Morrison Supermarkets in the UK last year.
Read more: BNN Bloomberg
