Clayton, Dubilier & Rice, a private equity firm, completed the acquisition of a 51% stake in the industrial businesses of Roper Technologies, an American diversified industrial company, for $2.6bn. “This is the final step in Roper’s divestiture strategy to reduce the cyclicality and asset intensity of our enterprise. We have created a meaningfully enhanced and higher-quality go-forward portfolio of market-leading businesses that is better positioned to deliver higher and more resilient organic growth, an improved working capital profile, and strong cash conversion. Selling a majority interest in these industrial businesses will provide Roper with significant upfront cash, while maintaining the ability to receive additional cash proceeds from the future exit of our minority interest,” Neil Hunn, Roper Technologies President and CEO.