Victor Capital Partners, a middle market private equity firm, announced it has completed the acquisition of the Coats Co. from Vontier Corp.
Terms of the deal have not been disclosed.
Coats' current manufacturing location and office in LaVergne, Tenn. 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,” says Doug Korn, managing partner at 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 its president and CEO. He has 30 years of experience leading companies like McKinsey & Co., Honeywell and more.
“We are thrilled to be partnering with Victor Capital and tapping into their deep expertise in developing strong, vibrant, innovative industrial businesses,” says Sartori.
“The Victor Capital team shares our values of collaboration and customer-focused and is committed to building upon our legacy of great people, quality products and a powerful brand.”
Current Capital Partners acted as financial advisors to Victor Capital. Maranon Capital provided financial support for the transaction.
