Vontier Reports Sale Of Its Coats Business To Victor Capital Partners For $72.5M, In An All-Cash Transaction
Portfolio Pulse from Benzinga Newsdesk
Vontier Corporation has sold its Coats business to Victor Capital Partners for $72.5 million in an all-cash deal. Coats is expected to generate $110 million in revenue and $10 million in EBITDA for 2023. The financial results of Coats are included in Vontier's 'Other' segment and will be removed from continuing operations from the transaction's completion date, January 8, 2024.
January 09, 2024 | 12:05 pm
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POSITIVE IMPACT
Vontier Corporation has completed the sale of its Coats business, which is expected to positively impact its financials by removing the segment's future revenues and EBITDA from its 'Other' segment.
The sale of the Coats business by Vontier is likely to be viewed positively by investors as it could streamline the company's operations and financials. The all-cash nature of the transaction may also be seen as a liquidity boost. However, the impact on the stock will depend on how significant the Coats business was to Vontier's overall performance and how the proceeds from the sale will be utilized.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100