Tuesday, July 31, 2012
Davis Polk is advising Roper Industries, Inc. in connection with its $1.415 billion acquisition of Sunquest Information Systems, Inc. The transaction is subject to Hart-Scott-Rodino approval and customary closing conditions and is expected to close within 30 days.
Davis Polk also advised Roper Industries, and certain of its foreign subsidiaries, as borrowers, in connection with a $1.5 billion unsecured revolving credit facility. The facility refinances Roper’s existing $750 million revolving facility due 2013. J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated were the lead arrangers and joint bookrunners for the facility, and JPMorgan Chase Bank, N.A., is acting as administrative agent.
Roper Industries is a diversified growth company that designs, manufactures and distributes radio frequency products and services, industrial technology products, energy systems and controls and medical and scientific imaging products and software. Roper Industries markets these products and services to selected segments of a broad range of markets, including radio frequency applications, medical, water, energy, research, education, software-as-a-service-based information networks, security and other niche markets. Headquartered in Tucson, Arizona, Sunquest provides a comprehensive suite of clinical and anatomic laboratory software solutions.
The Davis Polk corporate team includes partner Joseph Rinaldi, associates Patrick Delaney and Samuel Burley. The Davis Polk credit team includes partner Kenneth J. Steinberg and associate Russ McCracken. Partner Kathleen L. Ferrell and associate Ethan R. Goldman are providing tax advice. Partner Jean McLoughlin and associates Ron Aizen and Jessica Lutrin are providing benefits advice. All members of the Davis Polk team are based in the New York office.
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