Vontier divests Coats business to Victor Capital Partners for $72.5M in cash

Vontier announced the sale of its Coats business to Victor Capital Partners for $72.5M, in an all-cash transaction. Coats is projected to report 2023 revenue of approximately $110M and EBITDA of approximately $10M. Financial results for the Coats business are reported within the “Other” segment in Vontier’s financials and will be excluded from continuing operations as of the completion date. The transaction closed on January 8. The Coats Company is a global manufacturer of wheel service, alignment, lift and inspection equipment for the automotive market under the iconic Coats brand.