Vontier Corporation (Vontier) operates as an industrial technology company that unites productivity, automation, and multi-energy technologies to meet the needs of the mobility ecosystem.
The company serves end markets across the mobility ecosystem, including convenience retail and fueling, fleets, and auto repair. It markets its products and services to retail and commercial fueling operators, convenience store operators, car wash operators, commercial vehicle repair businesses, fleet owners/o...
Vontier Corporation (Vontier) operates as an industrial technology company that unites productivity, automation, and multi-energy technologies to meet the needs of the mobility ecosystem.
The company serves end markets across the mobility ecosystem, including convenience retail and fueling, fleets, and auto repair. It markets its products and services to retail and commercial fueling operators, convenience store operators, car wash operators, commercial vehicle repair businesses, fleet owners/operators, and electric vehicle charging network operators on a global basis.
The company's research and development, manufacturing, sales, distribution, service, and administration operations are located in approximately 25 countries, primarily across North America, the Asia Pacific, Europe, and Latin America.
The company is guided by its shared purpose to mobilize the future to create a better world and is united by a culture of continuous improvement and a bias for actions that embody the Vontier Business System (‘VBS’). Through the rigorous application of its proprietary VBS set of growth, lean, and leadership tools and processes, it continuously improves business performance in the critical areas of innovation, product development and commercialization, global supply chain, sales and marketing, and leadership development. The company's commitment to VBS and its goal of creating long-term shareholder value have enabled it to drive customer satisfaction and profitability through innovation, growth, and disciplined acquisitions to execute its strategy and expand its portfolio into new and attractive markets. Through its VBS-led execution of the Connected Mobility strategy, the company is accelerating the transformation to a connected, smart mobility ecosystem by creating enhanced and interconnected platforms throughout its segments.
Segments
The company operates through three reportable segments comprise three operating segments. Its three operating segments, and businesses within, are as follows:
Mobility Technologies: Invenco by GVR, DRB, Teletrac Navman, ANGI, and EVolve.
Repair Solutions: Matco Tools.
Environmental & Fueling Solutions: Gilbarco Veeder-Root.
Mobility Technologies
Mobility Technologies provides digitally enabled equipment and operating software solutions to drive automation, productivity, and compliance across the mobility ecosystem. Offerings include a convenience retail operating platform, point-of-sale and payment solutions, remote diagnostics and site-management tools, workflow automation solutions, data analytics, an operating software platform for electric vehicle charging networks, integrated solutions for alternative fuel dispensing, and IoT-based fleet telematics. Mobility Technologies serves major end markets with tailored solutions for customers based on their unique needs.
Invenco by GVR serves convenience retail stores and energy retailing providers globally. The company provides a network of connected solutions, including devices, software, APIs, and services, to improve productivity, automation, compliance, and safety to help its customers deliver better consumer experiences, increase revenue yield, and generate higher margins. Its end-to-end solutions ensure uninterrupted operations for its customers’ sites, covering forecourts, stores, and other on-site services, including quick service restaurants, car washes, and EV charging. The company has a large installed customer base with point-of-sale and self-checkout technology, payment processing and workflow software, payment terminals, site automation services, media capabilities, loyalty, remote site management, and fuel logistics offerings. Its universally compatible, modular, composable cloud-connected solutions are designed to integrate seamlessly with one another, as well as third-party offerings, enabling its customers to extend and rapidly deploy new features across their network.
DRB provides integrated technology solutions to the car wash industry. The company offers an end-to-end technology platform combining embedded point-of-sale, workflow and monitoring software, customer support, digital marketing, and payment facilitation services. It serves individual customer sites and has long-standing relationships with the majority of the top 20 car wash platforms in North America.
Teletrac Navman offers telematics hardware and software solutions to commercial and government fleet operators. The company provides vehicle tracking devices, telematics hardware and software solutions, and end-to-end sustainable fleet management solutions. Its global customer base leverages its suite of solutions for data-driven insights into fleet operations, vehicle and equipment maintenance, and asset utilization to improve fleet safety and productivity, optimize business performance, and deliver on sustainability or decarbonization commitments.
ANGI provides equipment, software, and services to commercial and government fleet operators, as well as retail gaseous fuel station developers and operators. Its full-site integrated solutions span compressed natural gas (‘CNG’), renewable natural gas (‘RNG’), hydrogen (H2), and biogas compression and dispensing. The company offers scalable, modular systems, including dispensing, compression, storage, service, and automation solutions to support global fleet decarbonization.
EVolve, made up of its Driivz and Sparkion businesses, serves charge point operators and fleet operators globally. Its interoperable electric vehicle charging and energy management platform solutions enable customers to facilitate EV charging economically at scale, secure energy resiliency, and deliver on sustainability or decarbonization commitments.
Repair Solutions
Repair Solutions comprises the Matco Tools business, a leading manufacturer and distributor of aftermarket vehicle repair tools, toolboxes, automotive diagnostic equipment, and software through a robust network of mobile franchisees, who purchase vehicle repair tools, equipment, and services from the company and resell primarily to professional mechanics directly.
To complement its offering of vehicle repair tools, the company has developed a suite of diagnostic tools and software to enhance repair shop workflow and strengthen relationships with its customers. It also generates sales from initial and recurring franchise fees, as well as various financing programs that include installment sales to franchisees.
Environmental & Fueling Solutions
Environmental & Fueling Solutions is a leading manufacturer and provider of solutions to improve safety, environmental compliance, and fueling efficiency globally. Through brands, including Gilbarco and Veeder-Root, the company serves independent and company-owned retail and commercial fueling operators with industry-leading environmental monitoring and leak detection systems, forecourt controllers, vapor recovery equipment, and fuel dispenser systems for petroleum. Its large installed base of products provides a recurring revenue stream for aftermarket parts and service offerings.
Seasonal Nature of Business
General economic conditions impact the company's business and financial results, and certain of its businesses experience seasonal and other trends related to the industries and end markets that they serve. For example, capital equipment sales are often stronger in the fourth calendar quarter (for the year ended December 31, 2024).
Government Contracts
Although the substantial majority of the company's revenue in 2024 was from customers other than governmental entities, it has agreements relating to the sale of products to government entities.
Regulatory Matters
The company is required to comply with various U.S. export/import control and economic sanctions laws, such as:
The Export Administration Regulations administered by the U.S. Department of Commerce, Bureau of Industry and Security, which, among other things, impose licensing requirements on the export, in-country transfer, and re-export of certain dual-use goods, technology, and software (which are items that have both commercial and military or proliferation applications);
The regulations administered by the U.S. Department of Treasury, Office of Foreign Assets Control, which implement economic sanctions imposed against designated countries, governments, and persons based on United States foreign policy and national security considerations; and
The import regulations administered by the U.S. Customs and Border Protection.
International Operations
The company's products and services are available in markets worldwide, and its principal markets outside the United States are in Europe and Asia Pacific. This geographic diversity allows it to draw on the skills of a worldwide workforce, provides greater stability to its operations, allows it to drive economies of scale, provides revenue streams that may help offset economic trends that are specific to individual economies, and offers it an opportunity to access new markets for products.
The manner in which the company's products and services are sold outside the United States differs by business and by region. Most of its sales in non-U.S. markets are made by its subsidiaries located outside the United States, though it also sells directly from the United States into non-U.S. markets through sales to various representatives and distributors and, in some cases, directly. In countries with low sales volumes, the company generally sells to representatives and distributors.
The company’s business in Russia, Ukraine, and Israel was not material to its results. The company did not have any sales in Russia during the year ended December 31, 2024. Sales in Ukraine and Israel accounted for approximately 60 basis points of its total sales for the year ended December 31, 2024.
History
Vontier Corporation was incorporated in 2019.