Vontier Acquires DRB Programs, LLC for Roughly $ 965 Million, Supplies Second Quarter 2021 Monetary Efficiency Replace

RALEIGH, NC – (COMMERCIAL THREAD) – Vontier Company (“Vontier”) (NYSE: VNT) introduced right this moment that it has entered right into a definitive settlement to amass DRB Programs, LLC (“DRB”), a number one provider of level of sale, workflow software program and management options to the automobile wash business, subsidiaries of New Mountain Capital LLC for roughly $ 965 million in money. The acquisition might be topic to customary closing situations, together with regulatory approval, and might be funded by accessible money and proceeds from borrowings beneath Vontier’s credit score services. Vontier expects the acquisition to be accomplished within the third quarter of 2021.

Based mostly in Akron, OH, DRB was based in 1984 and employs over 500 folks in North America. The corporate’s portfolio of trusted manufacturers consists of DRB Tunnel Options, DRB In-Bay Options (previously Unitec®), Suds Artistic ™, eGenuity®, Washify®, InvoMax ™, Auto Information ™ and Sage Microsystems ™. DRB is owned by New Mountain Capital, a New York-based funding agency.

Mark Morelli, President and CEO of Vontier, mentioned: “The acquisition of DRB ought to speed up our technique of portfolio diversification in direction of long-term progress drivers in enticing markets and set up a portfolio of gross sales options within the area. retail $ 500 million. DRB’s deal with know-how and software program options enhances our present point-of-sale and cost choices and enhances our progress and recurring income profile, profitability and free money move technology.

The DRB acquisition aligns with our objective of sensible infrastructure and provides compelling alternatives for growth past its present finish markets. As well as, its entry into the excessive value-added phase of the automobile wash business permits Vontier to more and more profit from the rising demand for clear and environment friendly mobility options and key developments, together with autonomous automobiles and water conservation. We stay up for working with the DRB workforce to ship an intensive suite of options to satisfy the business’s rising wants for workflow know-how and experience.

Vontier expects DRB to generate round $ 170 million in income in 2021 with common working margins of 20% and is predicted to have a long-term single-digit progress charge. The acquisition worth of the acquisition is roughly $ 965 million and features a deferred tax asset of roughly $ 130 million, which we anticipate to have the ability to use over the following 15 years.

Peter Masucci, Managing Director of New Mountain Capital, mentioned: “We’re happy with the profitable partnership with DRB and the great enterprise growth that has taken place since our funding in October 2017. Beneath the possession of New Mountain Capital, DRB has skilled a major progress whereas tripling the {dollars}. devoted to product growth and innovation. We thank the administration workforce and the workers of DRB and need Vontier continued success with DRB within the years to come back.


Vontier additionally introduced right this moment that it expects second quarter 2021 primary income progress and adjusted diluted internet revenue per share to be larger than beforehand introduced by the corporate, primarily resulting from a elevated demand for retail options and auto restore choices.


Vontier is a world industrial know-how firm targeted on transportation and mobility options. The corporate’s portfolio of trusted manufacturers consists of main experience in mobility applied sciences, business and business refueling, fleet administration, telematics, automobile diagnostics and restore and sensible metropolis finish markets. Vontier’s modern merchandise, companies and software program enhance effectivity, security, safety and environmental compliance around the globe.

Guided by Vontier’s confirmed enterprise system and an unwavering dedication to steady enchancment and buyer success, Vontier maintains visitors by way of over 90,000 intersections, serves over 260,000 buyer refueling websites, oversees extra of 480,000 business automobiles and equips greater than 600,000 automotive technicians worldwide. . Vontier’s innovation historical past, margin profile and money move traits ought to assist continued funding in a spread of compelling natural progress and capital deployment alternatives. Vontier mobilizes the longer term to create a greater world.


New Mountain Capital is a New York-based funding agency that emphasizes enterprise growth and progress, fairly than leverage, because it seeks long-term capital appreciation. The corporate presently manages non-public fairness, credit score, internet rental actual property and public fairness funds with greater than $ 30 billion in belongings beneath administration. New Mountain Capital seeks out what it believes to be the very best high quality progress leaders in fastidiously chosen business sectors, then works intensely with administration to create worth in these firms. Extra info on New Mountain Capital is obtainable at www.newmountaincapital.com.


This press launch comprises forward-looking statements inside the which means of federal securities legal guidelines relating to Vontier, DRB and the acquisition of DRB by Vontier. Statements on this press launch that aren’t strictly historic, together with statements relating to the proposed acquisition, the anticipated timing and situations of the acquisition, future product options, the longer term monetary and operational affect or the outcomes of acquisition, anticipated monetary efficiency for Vontier, prospects for DRB or the business following the acquisition, future progress alternatives following the acquisition, future synergy and some other statements relating to occasions or developments that Vontier expects or anticipates will happen or might happen sooner or later, are “forward-looking” statements inside the which means of federal securities legal guidelines. These statements embrace, with out limitation, statements relating to the enterprise and acquisition alternatives of Vontier Company (the “Firm”) and anticipated earnings, and some other statements recognized by their use of phrases akin to “anticipate” , “Anticipate”, “imagine”, “prospect”, “route” or “will” or different phrases with an identical which means. There are a selection of essential dangers and uncertainties which might trigger precise outcomes, developments and enterprise choices to vary materially from these instructed or indicated by these forward-looking statements and you shouldn’t place undue reliance on such statements. potential. These dangers and uncertainties embrace, amongst others, the length and affect of the COVID-19 pandemic, the deterioration or instability of the financial system, the markets we serve, worldwide commerce insurance policies and monetary markets, contractions or decrease progress charges and cyclicality of the markets we serve, competitors, adjustments in business requirements and authorities rules which can have a unfavorable affect on the demand for our merchandise or our prices, our capability to establish, eat, combine and efficiently understand the anticipated worth of acceptable acquisitions and full divestitures and different divestitures; our capability to efficiently develop and market new merchandise, software program and companies and to develop over time. new markets, the potential for inappropriate conduct by our workers, brokers or enterprise companions, the affect of divestitures, attainable liabilities els associated to acquisitions and disposals, the affect of adjustments in tax legal guidelines, our compliance with relevant legal guidelines and rules and adjustments in relevant legal guidelines and rules, dangers associated to financial, political, authorized, compliance and enterprise components worldwide, dangers associated to the potential impairment of goodwill and different intangible belongings, international change charges, tax audits and adjustments in our tax charge and revenue taxes, the affect of our securities claims on our operations, litigation and different contingent liabilities, together with mental property and environmental, well being and questions of safety, our capability to adequately defend our mental property rights, dangers associated to product and repair defects or software program, product legal responsibility and remembers, dangers related to the manufacture of merchandise, our relationship with and the efficiency of our channel companions, the prices of commodities and dietary supplements, our capability to regulate buying and manufacturing capability to replicate market situations, reliance on single sources of provide, safety breaches or different disruptions to our info techniques, the antagonistic results of restructuring actions, the affect of adjustments to US GAAP, labor points and disruptions associated to pure and man-made disasters. Extra info relating to components that might trigger precise outcomes to vary materially from these forward-looking statements will be present in our filings with the SEC, together with our Annual Report on Kind 10-Ok for the yr ended December 31, 2020. These forward-looking statements symbolize Vontier’s beliefs and assumptions solely as of the date of this launch and Vontier assumes no obligation to replace or revise any forward-looking statements, whether or not on account of new info, future occasions and developments. or in any other case.

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