DRB® Systems, LLC, (“DRB”) has announced plans to be acquired by Vontier Corporation (“Vontier”) (NYSE: VNT), a global industrial technology company focused on transportation and mobility solutions. The acquisition will be subject to customary closing conditions, including regulatory approval, and is anticipated to close in the third quarter of 2021.
Headquartered in Raleigh, NC, Vontier’s portfolio of trusted brands includes market-leading expertise in mobility technologies, retail and commercial fueling, fleet management, telematics, vehicle diagnostics and repair, and smart cities end-markets. Vontier’s innovative products, services, and software advance efficiency, safety, security, and environmental compliance worldwide.
Established in 1984, Akron, OH-based DRB is a provider of point-of-sale and optimization technology to the car wash, quick lube, and light repair industries. A masterbrand that includes DRB Tunnel Solutions, DRB In-Bay Solutions (formerly Unitec®), Suds Creative™, eGenuity®, Washify®, InvoMax™, Auto Data™, and Sage Microsystems™, DRB is owned by New Mountain Capital, a New York-based investment firm.
“DRB’s focus on technology and software solutions complements our existing point-of-sale and payment offerings. Furthermore, entry into the high-value segment of the car wash industry positions Vontier to increasingly benefit from the growing demand for clean, efficient mobility solutions and key trends including autonomous vehicles and water conservation,” said Mark Morelli, president and CEO of Vontier.
Peter Masucci, managing director of New Mountain Capital stated, “We’re proud of the successful partnership with DRB and the tremendous business building that took place since our investment in October 2017. We thank DRB’s management team and employees and wish Vontier continued success with DRB in the years ahead.”