Ametek has agreed to acquire the test-and-measurement businesses of Indicor for approximately $5bn, in what is the largest single partial exit Clayton, Dubilier & Rice has executed in 2026. CD&R originally acquired a 51% majority stake in Indicor — a 16-brand industrial instrumentation portfolio carved out of Roper Technologies in 2022 — at a $3.6bn enterprise value. The deal covers only the test-and-measurement subset; pumps-and-valves businesses remain with Indicor. The implied EBITDA multiple is 12–14x, putting CD&R on track for a 2.5–3.5x money multiple. Ametek's customer base spans semiconductor, pharma, aerospace, and energy sectors, positioning it as an indirect beneficiary of AI infrastructure buildout. The combined revenue base will approach $9bn. The deal is expected to close in H2 2026.
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