Roper adds $303 million in acquistions to portfolio

mjohnson@bradenton.comSeptember 5, 2014 

LAKEWOOD RANCH -- A Professional Parkway-headquartered industrial, scientific and technology company that notched $3.2 billion in sales last year has added three more acquisitions to its 38-company portfolio.

Roper Industries, a business that got its start making pumps and appliances in the late 1800s, has purchased two medical-sector businesses: Santa Barbara, Calif.,-based software producer Strategic Healthcare Programs, and surgical scrub dispenser manufacturer Innovative Product Achievements of Suwanee, Ga. Roper has also purchased Pleasanton, Calif.-based food industry software maker Foodlink.

According to a Roper news release, the three purchases add up to a total of $303 million.

Publicly traded since an initial public offering in 1992, Roper has grown steadily since then. The company's financial statements show more than $200 million in net sales growth in 2013 compared to 2012.

Roper CEO Brian Jellison said SHP and IPA will join the company's growing medical and scientific imaging division, which consists of 15 enterprises.

Jellison has led Roper since 2001. He is presently ranked as the 186th highest-paid CEO on Forbes' CEO compensa

tion list. His annual compensation is $9.36 million, according to the publication.

Across all its holdings, Roper has more than 9,900 employees, according to its website. Its companies produce a wide range of products, from medical and scientific imaging equipment to pumps and componentry for the gas and oil industries. Roper-owned companies are headquartered throughout the United States, in Canada, in Europe and the United Kingdom.

The three new acquisitions are relatively inexpensive compared with others Roper has made in the recent past. In May 2013, the company bought New Jersey-based health care service company Managed Health Care Associates for $1 billion. Eight months earlier, it paid $1.45 billion for Sunquest Information Systems, a Tucson, Ariz. provider of diagnostic and laboratory information systems.

One company Roper Industries no longer owns is its former eponymous appliance brand. Whirlpool bought the Roper Home Appliances name in the late 1980s, while another major appliance producer, General Electric, purchased the company's manufacturing operation. Whirlpool's Roper subsidiary sells gas ranges and clothes washer and dryers.

Roper Industries is not alone in picking Lakewood Ranch as the location for its corporate headquarters. Other big business interests in the community include FCCI Insurance Group and infrared equipment maker IRISS.

Steve Queior, president and CEO of the Sarasota Chamber of Commerce, said the area is attractive to homegrown and relocating businesses that want to establish their head offices in a place with a high quality of life and an attractive business climate. Florida was recently ranked as the fifth most business-friendly state in the U.S. by the Washington, D.C.-based nonprofit nonpartisan Tax Foundation.

Queior said most warm, seaside areas in the country where a business can locate its central offices might cost two or three times as much as Florida.

"We expect it to continue for more headquarters to move here," he said.

Roper Industries operates out of the Magnolia Green Office Park at 6901 Professional Parkway, a Lakewood Ranch Corporate Park building co-managed by a Schroeder Manatee Ranch subsidiary, according to Sarasota County property records.

Matt M. Johnson, Herald business reporter, can be reached at 941-745-7027, or on Twitter @MattAtBradenton.

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