Clayton, Dubilier & Rice LLC holding Indicor LLC turned to Uri Herzberg, Benjamin P. Collins-Wood and Spencer K. Gilbert of Debevoise & Plimpton LLP for counsel on an agreement to sell Cornell Pump Co. and Roper Pump Co. to Xylem Inc. (XYL) for $1.46 billion announced on Tuesday, Aug. 11. Roper Technologies Inc. (ROP) also owns a significant stake in Indicor, a Charlotte, N.C.-based industrial technology company.

The Deal reported on June 22 that CD&R, a New York-based private equity shop, was running a sale process for the two businesses. Ametek Inc. (AME) agreed to buy the rest of Indicor for $5 billion in May.

Paul Stefanick, Thomas Stokes, Daniel Levy, Alexander Gyde and Akshay Jotwani of Evercore Inc. and Katrien Carbonez and Hamish Douglas of Goldman, Sachs & Co. gave financial advice to Indicor on the sale of Cornell Pump and Roper Pump. Partner Andrew J. Campelli and principal Michael Pratt were on the divestiture at CD&R. General counsel Neuman Leverett was on the deal at Indicor.

Debevoise’s Herzberg, Gilbert, Collins-Wood and Kevin A. Rinker advised Indicor on the Ametek deal. Carbonez, Douglas and Brian P. Weiss at Goldman and the Evercore quintet gave financial advice on the Ametek deal to Indicor.

Herzberg and Rinker advised longtime firm client CD&R on its 2022 purchase of a 51% stake in Roper’s industrial businesses in a deal that placed an enterprise value of about $3.5 billion on the units. Sarasota, Fla.-based Roper turned to William J. Zawrotny of Jones Day in Atlanta for counsel and Evercore’s Stefanick and Gyde for financial advice on the deal.

Herzberg also represented Indicor on the sale of Compressor Controls Corp. to Honeywell International Inc. (HON) for $670 million in cash in a 2023 transaction.

Saee Muzumdar and Elizabeth Romefelt of Gibson, Dunn & Crutcher LLP were counsel to Xylem. Justin Katz and Gayle Turk at Centerview Partners LLC gave financial advice to the Washington-based water technology company, where M&A counsel Gary R. Ross and senior counsel, M&A Hannah Offerle worked on the deal.

Muzumdar and Romefelt advised Xylem on its purchase of Evoqua Water Technologies Corp. for $7.5 billion in stock and assumed debt in 2023.

The parties plan to close the deal in the fourth quarter of 2026, pending regulatory approvals.