What Indicor does

Indicor, LLC is a privately held, Charlotte, North Carolina-based diversified industrial holding company that aggregates 14 specialty businesses providing highly engineered, mission-critical products for industrial manufacturers and operators. Its portfolio spans materialographic preparation (Struers), industrial pumps (Roper Pump, Cornell Pump), vibration monitoring (Metrix), analytical and process instrumentation (PAC, Dynisco, Alpha Technologies), flow measurement (Flow Technology), smart water and gas metering (Technolog), process weighing (Hardy), refrigeration and engine controls (Hansen, Amot), and container quality assurance (AGR International). Each business maintains an independent brand identity, its own R&D and engineering footprint, and customer-facing operations, while Indicor provides shared corporate oversight, capital allocation, and the IBEX operational improvement toolkit.

The company generates revenue primarily through direct B2B sales of engineered hardware — pumps, instruments, sensors, flow meters, weighing systems, and process control equipment — supplemented by approximately 50% recurring aftermarket revenue from service, parts, and support within the Instrumentation segment. Indicor's stated commercial metrics include gross margins exceeding 50% within Instrumentation, ~3,000 employees across 50 countries, and end-market exposure across aerospace, automotive, chemical, energy, food and beverage, healthcare, utilities, and general industrial sectors. Go-to-market combines factory-direct sales (Metrix in 65+ countries), a global distributor network (PAC at 140+ distributors and 13 offices), and regional sales infrastructure (Technolog at 40+ sales locations).

The company's strategic posture in 2024–2026 has been defined by an active buy-and-build program — most notably the September 2024 acquisition of Ovarro and the December 2024 acquisitions of Orbis Intelligent Systems and Aquam — followed by the May 2026 announcement that AMETEK will acquire the Indicor Instrumentation portfolio for approximately $5 billion (~14x EBITDA on ~$1.1 billion in annual sales). Concurrent leadership transition saw CEO Doug Wright depart in December 2025 for ATS Corporation, with Chairman John Stroup assuming the interim CEO role. The combination of high-margin niche industrial assets, a recurring aftermarket revenue base, and active portfolio reshaping positions Indicor as a classic private-equity-style industrial platform in mid-transition.

Name

Indicor

Legal name

Indicor, LLC

Website

https://indicor.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Indicor is a private Charlotte-based holding company aggregating 14 specialty industrial businesses that provide highly engineered, mission-critical instruments, pumps, flow meters, vibration monitors, and process controls to manufacturers and operators across aerospace, energy, food, healthcare, and utilities in roughly 50 countries.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Industrial Products and Solutions Sales: Revenue generated from the sale of highly-engineered, mission-critical industrial products and solutions across multiple business segments including pumps, instrumentation, flow meters, vibration monitoring, weighing systems, and process control equipment.
2. Aftermarket and Recurring Revenue: Approximately 50% of Indicor Instrumentation sales come from recurring aftermarket revenue streams including service, parts, and support services.
3. Professional Services and Support: Extended services including equipment installation, product support, training, repair services, and process improvement consulting offered by subsidiaries like Agr International and Hardy Process Solutions.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Indicor is a diversified industrial holding company that designs and manufactures highly-engineered, mission-critical products through a portfolio of specialized business units. Its offerings span specialty and laboratory instruments, vibration monitoring, analytical instrumentation, industrial pumps, weighing systems, smart metering, quality control, and precision flow technologies serving industrial manufacturers worldwide.

Product overview

Indicor is a diversified industrial solutions company organized as a portfolio of distinct businesses (acquired brands and sub-brands), each focused on mission-critical technologies across instrumentation, pumps, vibration monitoring, weighing, flow measurement, quality control, and process automation. The portfolio includes 14 primary business units: Struers (materialographic preparation), Roper Pump Company (industrial pumps), Metrix (vibration monitoring), PAC (analytical instrumentation), Technolog (smart metering), AGR International (quality control), Cornell Pump (centrifugal pumps), Hardy Process Solutions (weighing solutions), Dynisco (polymer processing sensors), Alpha Technologies (rheology instruments), Flow Technology (flow meters), Amot (engine controls), and Hansen (refrigeration valves). These businesses operate independently under the Indicor umbrella, collectively serving aerospace, automotive, chemical, energy, food, healthcare, utilities, and general industrial sectors across 50 countries. The Indicor Instrumentation portfolio (which was being acquired by AMETEK for approximately $5 billion) generated approximately $1.1 billion in annual sales.

Differentiator

Problem solved

Functional benefit

Products and services

• Struers Equipment, consumables, and services for materialographic surface preparation and analysis of solid materials, serving quality control and research laboratories across various industries.
• Roper Pump Company Reliable and efficient pumping systems including gear pumps and PC pumps for oil and gas, chemical processing, transportation, and power generation industries.
• Metrix Industrial vibration monitoring systems, sensors, proximity systems, and switches for protecting plant machinery across pumps, motors, compressors, and rotating machinery.
• PAC Advanced analytical instrumentation for laboratory and online process analytics, combining analytical and testing equipment with digital platforms for real-time analytics.
• Technolog Smart water and gas metering solutions including data loggers, wireless telemetry systems, and pressure and flow monitoring devices for utilities to optimize resources and reduce waste.
• AGR International Quality control equipment and services for the global container manufacturing, filling and packaging industries, including testing equipment for glass and plastic containers and process control systems.
• Cornell Pump Company High-efficiency centrifugal pumps for agriculture, mining, industrial, IoT, municipal and rental applications, featuring patented solutions including Redi-Prime, Run-Dry, and Cycloseal systems.
• Hardy Process Solutions High-performance weighing solutions for process and packaging industries, including scales, instruments, weight controllers, load cells, and platform scales.
• Dynisco Measurement and control solutions for the polymer and plastics industry, including pressure sensors, rheology instruments, and real-time data systems for polymer processing optimization.
• Alpha Technologies Rheometer manufacturer and developer of rheology instruments for rubber and polymer testing including RPA, MDR, and Mooney Viscometer.
• Flow Technology Specialized high-accuracy flow meters and flow metering solutions including turbine, positive displacement, electromagnetic, and ultrasonic flow meters for liquid and gas flow sensing.
• Amot Advanced engine, turbine and fuel cell controls including temperature control valves, hazardous area pressure and temperature switches, electric rotary actuators, and safety systems for mission-critical applications.
• Hansen Valves and controls for the industrial refrigeration market, offering products for managing flow, temperature, liquid level, and energy consumption in food processing and cold storage plants.
• QCT_PA12 Series In-Line Ultrasonic Flow Meters In-line ultrasonic flow meter with no moving parts and non-wetted sensor for high accuracy and reliability in low viscosity liquid applications at an economical price point.
• QLF Series In-Line Ultrasonic Meter In-line ultrasonic flow meter for ultra-low-flow low viscosity liquid applications.
• QCT Series In-Line Ultrasonic Meters In-line ultrasonic flow meters for low viscosity liquid applications across chemical, biopharmaceutical, food & beverage, pharmaceutical, plastics, power generation, pulp & paper, semiconductor, and steel industries.
• FT-BD Turbine Flow Meter System Turbine flow meter system for measuring bi-directional flow with viscosity compensation for ambient fluid temperature variations.

Quantifiable outcome

• 50% recurring revenue from aftermarket streams
• +3 more outcomes

Named customers6 records

Segments10 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Travers SmithminorImplementation/ SI/ Consulting Partner · 11 September 2024Travers Smith, a law firm, advised Indicor Equity, LLC on its acquisition of Ovarro, providing legal counsel for the transaction.
• Metrix Instrumentation PartnerscoreChannel Partner/ Reseller/ DistributorMetrix operates in more than 65 countries via factory-direct sales, along with a strategic network of instrumentation partners providing local support and distribution.
• PAC Global Distribution NetworkcoreChannel Partner/ Reseller/ DistributorPAC has over 140 distributors and 13 global offices, providing comprehensive local support to customers across diverse sectors worldwide.

Scale indicators6 records

Recent moves6 records

Expansion highlights3 records

Market position

Weaknesses4 records

Competitive moat4 records

Customer concentration

• LinkedInlinkedin.com/company/indicor

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Indicor