M&A Deal Summary

Roper Technologies Acquires Procare Solutions

On January 25, 2024, Roper Technologies acquired software company Procare Solutions from TA Associates and Warburg Pincus for 1.8B USD

Acquisition Highlights
  • This is Roper Technologies’ 14th transaction in the Software sector.
  • This is Roper Technologies’ 4th largest (disclosed) transaction.
  • This is Roper Technologies’ 31st transaction in the United States.
  • This is Roper Technologies’ 2nd transaction in Colorado.

M&A Deal Summary
Date 2024-01-25
Target Procare Solutions
Sector Software
Buyer(s) Roper Technologies
Sellers(s) TA Associates
Warburg Pincus
Deal Type Add-on Acquisition
Deal Value 1.8B USD

Target

Procare Solutions

Denver, Colorado, United States
Procare Solutions is a provider of child care management software, integrated payment processing, technology and services. The company supports over 30,000 preschools, daycare centers, after-school programs, camps and related facilities with a broad product suite that serves the complex and unique demands of the child care market. With Tuition Express, the company’s integrated payment processing platform, Procare saves schools time and cost, providing seamless bank reconciliations and speedy electronic payment delivery. Procare is the trusted partner to schools and parents across the United States. Procare offers both a desktop solution and cloud hosting, and supports customers of all sizes from single-center operations to complex multinational enterprises. Procare Solutions was founded in 1992 and is based in Denver, Colorado.

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Buyer(S) 1

Buyer

Roper Technologies

Sarasota, Florida, United States
Category Company
Founded 1981
Sector Information Technology
Employees16,800
Revenue 6.2B USD (2023)
DESCRIPTION

Roper Technologies is a diversified technology company. Roper designs and develops software (both software-as-a-service and licensed), and engineered products and solutions for healthcare, transportation, food, energy, water, education and other niche markets worldwide. Roper Technologies was founded in 1981 and is based in Sarasota, Florida.

DEAL STATS #
Overall 36 of 37
Sector (Software) 14 of 14
Type (Add-on Acquisition) 36 of 37
State (Colorado) 2 of 2
Country (United States) 31 of 32
Year (2024) 1 of 2
Size (of disclosed) 4 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-08 Syntellis

Chicago, Illinois, United States

Syntellis provides innovative enterprise performance management software, data, and analytics solutions for healthcare, higher education, and financial institutions. Syntellis’ solutions include Axiom and Connected Analytics software, which help finance professionals elevate performance by acquiring insights, accelerating decisions, and advancing their business plans. Syntellis was formed in 2020 and is based in Chicago, Illinois.

Buy $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-15 Transact

Scottsdale, Arizona, United States

Transact is a provider of campus engagement and payments solutions and a first-mover innovator in NFC mobile credentials, Transact enables institutions to identify and engage students, elevating the student experience through mission-critical transactions. Transact is based in Scottsdale, Arizona.

Buy $1.5B

Seller(S) 2

SELLER

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 254 of 255
Sector (Software) 54 of 55
Type (Add-on Acquisition) 130 of 130
State (Colorado) 9 of 9
Country (United States) 207 of 207
Year (2024) 1 of 2
Size (of disclosed) 8 of 67
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-08 Rocscience

Toronto, Ontario, Canada

Rocscience is a developer of 2D and 3D software for civil, mining, and geotechnical engineers. Rocscience was founded in 1996 and is based in Toronto, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-19 Agilio Software

Sheffield, United Kingdom

Agilio Software is a provider of saas based compliance and hr services into the dental market via its two main product lines, icomply and total hr. These are essential clinical services for dental practices to ensure regulatory and cqc compliance, free up practice managers time and drive operational excellence, in a market underpinned by complex and changing clinical regulation. Agilio Software is based in Sheffield, United Kingdom.

Buy -
SELLER

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.

DEAL STATS #
Overall 249 of 250
Sector (Software) 21 of 22
Type (Add-on Acquisition) 90 of 90
State (Colorado) 6 of 6
Country (United States) 136 of 137
Year (2024) 1 of 2
Size (of disclosed) 15 of 63
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-17 Service Compression

Lubbock, Texas, United States

Service Compression is a provider of natural gas compression services for exploration and production companies at the wellhead. The company focuses on advancing the upstream oil and gas sector's ESG (environmental, social, and governance) initiatives through its differentiated service and technology offerings. Service Compression is headquartered in Lubbock, Texas, with field offices in Texas, New Mexico, Oklahoma, and Arkansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-10 Appasamy Associates

Chennai, India

Appasamy Associates is a manufacturer of ophthalmic equipment, surgical equipment, and IOLs, and caters to domestic and export markets. Appasamy Associates was founded in 1978 and is based in Chennai, India.

Buy -
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