US-based Roper Industries is to acquire TransCore Holdings from an investor group led by KRG Capital Partners in a transaction valued at approximately $600 million.
TransCore is a provider of technologies and related services in areas such as radio frequency identification (RFID), satellite-based communication, mobile asset tracking, security applications and toll system and processing services.
Roper expects the addition of TransCore and the related financing initiative discussed below to add $0.10-$0.15 to 2005 diluted earnings per share.
TransCore will operate as a standalone segment within Roper and continue to market its products under its current brand names. Its customer offerings include proprietary RFID tags and readers, and satellite-based communication hardware and accessories.
TransCore expects total sales in its fiscal year ending January 31, 2005 of $365 million and adjusted EBITDA of $73 million.
TransCore’s senior management team, under the leadership of President and CEO John Worthington, will continue to lead the business. Headquartered in Harrisburg, PA, TransCore has 1,800 employees throughout North America.
The acquisition is expected to close before the end of the year, subject to anti-trust review and customary closing conditions.