Transformation at $ROP expected to keep going.
Would not be surprised if this is a pure software company in ~5 years (~60% today with recent divestitures)
Adding fmr $DHR CEO to the board is a fantastic move who will help on new acquisitions & also brings spinoffs to the table
Would not be surprised if this is a pure software company in ~5 years (~60% today with recent divestitures)
Adding fmr $DHR CEO to the board is a fantastic move who will help on new acquisitions & also brings spinoffs to the table
How the Board operates in $ROP 
$ROP on software valuations, what they look for and what they will be paying.
~18x EBITDA is a good deal for a very high quality business (equiv to low 20s fcf)
They just sold ~$3B of industrial companies for 20x EBITDA (more capex, wc intensive, cyclical and lower growth)
~18x EBITDA is a good deal for a very high quality business (equiv to low 20s fcf)
They just sold ~$3B of industrial companies for 20x EBITDA (more capex, wc intensive, cyclical and lower growth)
Per Bloomberg $ROP now considering selling the whole Process Technologies segment (pumps, valves, flow control, instrumentation) Would imply 19x EBITDA for a business going through cyclical strength.
They bought Vertafore (P&C software) for 18x
h/t @LibertyRPF Newsletter
They bought Vertafore (P&C software) for 18x
h/t @LibertyRPF Newsletter
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