Investcorp sells Neptune Technology Group to Roper Industries
Bahrain-based Investcorp has signed a definitive agreement for the sale of Neptune Technology Group to Roper Industries, a diversified industrial growth company based in Duluth, Georgia, US.
This full realization, which follows the partial sale earlier this year, has provided an excellent return, in a short period of time, for Investcorp and its investors, who will earn a capital gain in excess of 60 percent over their approximate two-year investment period, stated a company news release.
Neptune Technology Group is a North American water works company. Through its network of direct sales personnel and distributors, the company provides water utilities with a comprehensive product offering of water meters and advanced meter reading systems. Neptune has its headquarters in Alabama, US, where it also operates its principal manufacturing facility.
Investcorp and its investors acquired Neptune from global technology services company Schlumberger in November 2001. The company is a global investment group with offices in Bahrain, London and New York.
The firm has four lines of business: corporate investment, real estate investment, asset management and technology investment. It was established in 1982 and has since completed transactions with an aggregate value of approximately $25 billion. — (menareport.com)
© 2003 Mena Report (www.menareport.com)