Vontier to use credit facilities borrowings for DRB purchase

By Sara Rosenberg

New York, July 19 – Vontier Corp. plans to use borrowings under its credit facilities and available cash to fund its roughly $965 million acquisition of DRB Systems LLC from New Mountain Capital LLC, according to a news release.

Closing is expected in the third quarter, subject to customary conditions, including regulatory approval.

Vontier is a Raleigh, N.C.-based industrial technology company focused on transportation and mobility solutions. DRB Systems is an Akron, Ohio-based provider of point of sale, workflow software and control solutions to the car wash industry.

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