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Indicor
Indicor is a CD&R-backed industrial technology platform formed from Roper's carve-out, led by CEO Doug Wright and headquartered in Charlotte.
Indicor
Indicor was formed in October 2021 after Roper Technologies divested its legacy industrial businesses — a transaction that saw private equity firm Clayton Dubilier & Rice acquire a majority stake while Roper retained minority ownership. The portfolio, anchored by brands previously grouped under Roper's Measurement & Analytical Solutions and Process Technologies segments, includes manufacturers like Dynisco, Alpha Technics, and Struers. These subsidiaries produce pressure sensors, temperature-control systems, and materialographic preparation equipment, typically holding leading market positions in narrow technical verticals. The firm acquires control positions in North American and European industrial technology companies with $50 million to $500 million in revenue, targeting businesses where it can accelerate growth through operational improvements and bolt-on M&A. Core end markets encompass energy transition infrastructure — including hydrogen-compatible pressure monitoring — medical device testing, and industrial automation components. Indicor completed its first major add-on acquisition in 2022, buying Uson, a leak-testing equipment manufacturer, and folded it into its existing testing and measurement platform alongside Zaxis. Wright, a former Roper executive who had overseen the same business units since 2017, leads a team of roughly 3,000 employees distributed across manufacturing and engineering sites concentrated in the United States, Denmark, and Germany. In December 2023, Indicor acquired TeDan Surgical Innovations, a specialized maker of surgical access retractors, signaling continued appetite for healthcare-adjacent niche manufacturing assets. Indicor's structure offers the operational independence of a standalone enterprise backed by CD&R's buy-and-build playbook — a hybrid that avoids both conglomerate inertia and the short hold periods of smaller private equity platforms. The firm functions as a permanent capital vehicle within CD&R's portfolio, designed to compound through cycles rather than flip, with Roper's retained minority stake aligning long-term interests.
General information
Firm type
Asset Manager
Year founded
2021
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Charlotte
Corporate office
Charlotte, NC, United States
Principals
Doug Wright
Chief Executive Officer
Sector focus
Frequently asked questions
How was Indicor formed, and who owns it?
Indicor was created in October 2021 when private equity firm Clayton Dubilier & Rice acquired a majority stake in Roper Technologies' industrial businesses. Roper retained a minority equity interest. The portfolio includes former Roper subsidiaries that design and manufacture engineered instrumentation, automation controls, and testing equipment for critical applications.
Who runs investment and operating decisions at Indicor?
Doug Wright serves as Chief Executive Officer, a role he assumed upon the company's formation. Wright previously led the same business units as a Group Vice President at Roper Technologies starting in 2017. Investment decisions, including M&A strategy, are executed by the corporate leadership team in coordination with CD&R.
What types of companies does Indicor acquire?
Indicor targets niche industrial technology and specialized manufacturing businesses with $50 million to $500 million in revenue. The firm seeks control acquisitions where it can apply operational expertise to accelerate growth, often pursuing bolt-on targets that expand existing subsidiary platforms. End markets include energy transition, medical devices, and industrial automation.
Does Indicor hold companies indefinitely or exit on a typical private equity timeline?
Indicor operates with a longer-duration mandate than a conventional private equity fund. While CD&R leads the majority investment, the structure functions as a permanent-capital-like platform designed to compound through acquisitions and organic growth over multiple cycles. Roper's ongoing minority stake reinforces the long-term alignment.
What geographic markets does Indicor serve?
Indicor's operating companies maintain manufacturing and engineering facilities concentrated in North America, Germany, and Denmark. The firm serves customers globally, with subsidiary brands holding leading positions in North American and European industrial, energy, and healthcare end markets.
Which sectors does Indicor explicitly avoid?
Indicor has not publicly disclosed exclusionary criteria. However, its acquisition pattern focuses narrowly on B2B engineered products rather than consumer-facing offerings or pure software businesses. The firm has shown no activity in financial services, media, or retail sectors.
How is Indicor related to Roper Technologies today?
Roper Technologies divested its industrial segment to Indicor in 2021 but retained a minority ownership stake. Former Roper executive Doug Wright leads the standalone entity. Roper continues to report its retained interest in its financial statements but has no operational control over Indicor.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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