Victor Capital Partners, a middle market private equity firm that invests in mission-driven companies, announced their acquistion of the Coats Company from Vontier Corporation.
Coats, a 75-year-old global manufacturer and distributor of Coats-branded wheel service, alignment, inspection, lift, and shop productivity equipment and services, will retain its existing executive team and current manufacturing location in LaVergne, Tennessee. Mauricio Sartori, with his 30 years of industry experience, will serve as president and CEO.
"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 legay of great people, quality products, and a powerful brand."
Coats provides a large product offering through a distributor network, to its customer base of primarily 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.
"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."
