Vontier completed the acquisition of DRB Systems from New Mountain Capital for $965m.

Vontier, a global industrial technology company focused on transportation and mobility solutions, completed the acquisition of DRB Systems, a provider of point of sale, workflow software, and control solutions to the car wash industry, from New Mountain Capital, a private equity firm, for $965m. "The acquisition of DRB is expected to accelerate our portfolio diversification strategy toward long-term secular growth drivers in attractive markets and establish a $500m Retail Solutions portfolio. DRB’s focus on technology and software solutions complements our existing point of sale and payment offerings and enhances our growth and recurring revenue profile, profitability, and free cash flow generation," Mark Morelli, Vontier President and CEO.