Vontier, a carve-out of Fortive's mobility infrastructure services unit, filed on Friday with the SEC to raise up to $100 million in an initial public offering, though we estimate the offering may be closer to $1 billion.
The Raleigh, NC-based company was founded in 2019 and booked $2.8 billion in sales for the 12 months ended December 31, 2019. It plans to list on the NYSE under the symbol VNT. Goldman Sachs is the sole bookrunner on the deal. No pricing terms were disclosed.
