On January 9, 2024, Victor Capital Partners, a private equity firm specializing in branded, mission-driven companies in specialty consumer, industrial technology, and business service industries, acquired The Coats Company from Vontier Corporation. Coats, a 75-year-old manufacturer and distributor of wheel service, alignment, inspection, lift, and shop productivity equipment and services, is headquartered in LaVergne, Tennessee.

Victor Capital aims to accelerate Coats' growth by expanding its product portfolio and enhancing its national service offerings. Doug Korn, managing partner of Victor Capital, expressed enthusiasm about the partnership and future growth opportunities. Coats' leadership will remain intact, with Mauricio Sartori, an industry veteran with over 30 years of experience, continuing as President and CEO.

Coats operates globally, including in Canada, where they have a facility in Mississauga, Ontario, known as Hennessy Canada. This location provides sales and customer support services for Coats' equipment across Canada.