Vontier Corporation is selling The Coats Company to Victor Capital Partners for $72.5 million, in an all-cash transaction. The Coats Company is projected to report 2023 revenue of approximately $110 million and EBITDA of approximately $10 million.
Financial results for The Coats Company are reported within the “Other” segment in Vontier’s financials and will be excluded from continuing operations as of the completion date, Vontier said. The transaction closed on Jan. 8.
“We are excited to partner with the Coats team and support the next chapter of the company’s growth,” said Doug Korn, managing partner of Victor Capital. “Together, we will work to accelerate investments to achieve Coats’ future potential as a bigger, stronger company with an expanded product portfolio and robust national service offering.”
Coats will continue to be led locally by its existing executive team. Mauricio Sartori will serve as president and CEO. He has over 30 years of industry experience leading global and multi-regional businesses with Gilbarco Veeder-Root, Honeywell, Accenture, and McKinsey & Company, The Coats Company says.
“We are thrilled to be partnering with Victor Capital and tapping into their deep expertise in developing strong, vibrant, innovative industrial businesses,” said Sartori. “The Victor Capital team shares our values of collaboration and customer focus and is committed to building upon our legacy of great people, quality products, and a powerful brand.”
The Coats Company is a global manufacturer of wheel service, alignment, lift and inspection equipment for the automotive market and is headquartered in LaVergne, Tennessee. Victor Capital Partners is a middle-market private equity firm investing in specialty consumer, industrial technology and business services companies.
