Roper Industries acquires TransCore Holdings

Roper Industries acquires TransCore Holdings    Roper Industries, a provider of technology for global niche markets, has bought TransCore Holdings Inc., a provider of software and systems for security, toll collection and traffic monitoring.
   Roper acquired TransCore from an investor group led by KRG Capital Partners in a transaction valued at approximately $600 million. TransCore will operate as a standalone segment within Roper and continue to market its products under the TransCore brand name.
   According to a statement from Roper, the acquisition will be funded from commitments Roper has received from JPMorgan Chase Bank and Wachovia, N.A., for a senior secured credit facility consisting of term loans and a revolving credit line. In addition, Roper plans to raise approximately $250 million in cash by issuing common stock. The acquisition is expected to close by the end of 2004.
   'TransCore has historically generated strong margins and cash flows,' said Brian Jellison, chairman, president and chief executive officer of Roper Industries. Roper expects TransCore to show total sales in its fiscal year ending Jan. 31, 2005, of $365 million and EBITA of $73 million.
   Advisors for the acquisition included Merrill Lynch and Devon Value Advisers for Roper and Lehman Brothers for TransCore.