M&A Deal Summary

Roper Technologies Acquires Transact

On August 15, 2024, Roper Technologies acquired information technology company Transact from Reverence Capital Partners and Farol Asset Management for 1.5B USD

Acquisition Highlights
  • This is Roper Technologies’ 6th transaction in the Information Technology sector.
  • This is Roper Technologies’ 6th largest (disclosed) transaction.
  • This is Roper Technologies’ 32nd transaction in the United States.
  • This is Roper Technologies’ 2nd transaction in Arizona.

M&A Deal Summary
Date 2024-08-15
Target Transact
Sector Information Technology
Buyer(s) Roper Technologies
Sellers(s) Reverence Capital Partners
Farol Asset Management
Deal Type Add-on Acquisition
Deal Value 1.5B USD

Target

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.

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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 37 of 37
Sector (Information Technology) 6 of 6
Type (Add-on Acquisition) 37 of 37
State (Arizona) 2 of 2
Country (United States) 32 of 32
Year (2024) 2 of 2
Size (of disclosed) 6 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-25 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.

Buy $1.8B

Seller(S) 2

SELLER

Reverence Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2013
Size Small
Type Sector Focused
DESCRIPTION

Reverence Capital Partners is a specialist private investment firm focused on investing in global, middle-market financial services businesses. Specific areas of interest include insurance, asset/wealth management, depositories, finance, financial technology/payments, and capital markets. The Firm targets control and influence-oriented minority investments and typically collaborates with management to drive long-term success. Reverence Capital Partners was formed in 2013 and is based in New York City.

DEAL STATS #
Overall 3 of 3
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (Arizona) 1 of 1
Country (United States) 3 of 3
Year (2024) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-01 Sunstar Insurance Group

Memphis, Tennessee, United States

Sunstar Insurance Group is a regional insurance brokerage firm, focused on servicing the insurance needs of businesses and individuals in the Southeast and lower Midwest. Sunstar operates through 10 hub offices, with 18 branch offices in Arkansas, Kansas, Missouri, and Tennessee. Sunstar Insurance Group was formed in 2012 and is based in Memphis, Tennessee.

Buy -
SELLER

Farol Asset Management

Investor Investor Investor

Category Private Equity Firm
Founded 2011
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Farol Asset Management is a private equity firm that looks to match institutional investors with direct investment opportunities. The Firm seeks to commit $5 to $30 million per transaction to support a variety of transaction situations and typically works with opportunities brought to it by private equity firms, fund-less sponsors, entrepreneurs and operating executives. Farol Asset Management was formed in 2011 and is headquartered in New York City.

DEAL STATS #
Overall 7 of 7
Sector (Information Technology) 2 of 2
Type (Add-on Acquisition) 4 of 4
State (Arizona) 1 of 1
Country (United States) 6 of 6
Year (2024) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-01 PAK Quality Foods

San Angelo, Texas, United States

PAK Quality Foods is a protein distributor with a focus on specialty and ethnic proteins. PAK Quality Foods was founded in 1988 and is based in San Angelo, Texas.

Buy -
Mergr

Product

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