Victor Capital Partners has announced in a press release that it has completed an acquisition of The Coats Company from Vontier Corporation.
Coats is a 75-year-old global manufacturer and distributor of Coats-branded wheel service, alignment, inspection, lift and shop productivity equipment and services. Its current manufacturing location and office in LaVergne, Tennessee, will serve as headquarters of the newly independent company.
“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.
“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.”
Coats provides a broad product offering, directly and through a strong distributor network, to its primary customer base of repair shops, tire dealers, big box retailers and car dealers. Its service division offers a nationwide network of mobile service technicians that deliver installation and repair services to ensure the uptime and reliability of critical equipment.
Current Capital Partners acted as financial advisor to Victor Capital. Maranon Capital provided financing in support of the transaction. Blank Rome served as legal counsel to Victor Capital.