Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

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<a href="https://www.smartkarma.com/entities/vontier-corp" target="_blank" data-smartkarma-citation="entities:28857:1" rel="noopener">Vontier Corp (VNT US)</a> is a carve-out of <a href="https://www.smartkarma.com/entities/fortive-corp" target="_blank" data-smartkarma-citation="entities:26508:1" rel="noopener">Fortive Corp (FTV US)</a>'s mobility infrastructure business. Vontier Corp is getting ready for an IPO in the next few weeks. Goldman Sachs is the sole underwriter in this deal. So far, no pricing terms have been disclosed but it is estimated that the company could raise as much as <a href="https://www.nasdaq.com/articles/fortive-spin-out-vontier-files-for-an-estimated-%241-billion-ipo-2020-02-14" target="_blank" rel="noopener">$1 billion.</a>
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<strong>Vontier Corp</strong> provides numerous equipment, software, and services that aim to service the <strong>mobility infrastructure industry</strong> worldwide. The company supplies numerous solutions including advanced environmental sensors, fueling equipment, field payment hardware, remote management and workflow software, vehicle tracking and fleet management software solutions. </div></li>
<li>The company generated sales of $2.8 billion in 2019, up 4% YoY. From 2015 to 2019, its sales increased by 5.4% CAGR. From 2015 to 2019, the company generated a stable and relatively high average <strong>operating margin of 19.2%. </strong>
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Vontier Corp (VNT US) is a carve-out of Fortive Corp (FTV US)'s mobility infrastructure business. Vontier Corp is getting ready for an IPO in the next few weeks. Goldman Sachs is the sole underwriter in this deal. So far, no pricing terms have been disclosed but it is estimated that the company could raise as much as $1 billion.


Vontier Corp provides numerous equipment, software, and services that aim to service the mobility infrastructure industry worldwide. The company supplies numerous solutions including advanced environmental sensors, fueling equipment, field payment hardware, remote management and workflow software, vehicle tracking and fleet management software solutions. 
The company generated sales of $2.8 billion in 2019, up 4% YoY. From 2015 to 2019, its sales increased by 5.4% CAGR. From 2015 to 2019, the company generated a stable and relatively high average operating margin of 19.2%. 



United States

Insight Enterprises, Inc. offers information technology hardware, software, and services to large enterprises, small to medium sized businesses, and public sector institutions in North America, Europe, the Middle East, Africa, and Asia-Pacific.

Dolby Laboratories Inc. develops audio signal processing systems for the motion picture, broadcasting, and music recording industries, as well as the consumer market.

Arrow Electronics, Inc. distributes electronic components and computer products to industrial and commercial customers.  The Company distributes a variety of products including computer systems, peripherals, software, and mass storage products to original equipment manufacturers and commercial customers worldwide.

Sanmina Corporation provides electronics contract manufacturing services to customers located around the world. The Company offers its customers expertise in new product introduction, manufacturing, and design and fabrication of complex interconnect products. Sanmina Corporation specializes in circuit fabrication, system assembly, integration, and high-end enclosures and cabling.

Littelfuse, Inc. manufactures and sells fuses and other circuit protection devices for use in the automotive, electronic, and general industrial markets. The Company also makes relays, switches, circuit breakers, and indicator lights. Littelfuse sells its products around the world.

Itron, Inc. provides solutions for collecting, communicating, and analyzing electric, gas, and water usage data.  The Company sells its products to the utility industry.  Itron designs, manufactures, markets, sells, installs, and services hardware, software, and integrated systems for handheld computer-based electronic meter reading and automatic meter reading systems.

IPG Photonics Corporation produces high-power fiber lasers and amplifiers. The Company develops and commercializes optical fiber-based lasers used in a wide range of applications such as materials processing, telecommunications and medical applications.

Novanta, Inc. designs, develops, manufactures, and sells precision photonics and motion control components and subsystems. The Company offers its products to original equipment manufactures in the medical equipment and advanced industrial technology markets.

Honeywell Automation India Limited supplies industrial automation and control solutions to the petrochemicals, refining, oil and gas, mining, metal and power industries.

Badger Meter, Inc. manufactures and markets flow measurement and control products.  The Company's products are used to measure and control the flow of liquids and gases in a variety of applications.  Badger's products include water meters and associated systems, wastewater meters, industrial process meters, automotive fluid meters, small valves, and natural gas instruments.

Zhejiang Dahua Technology Co., Ltd. researches, designs and manufactures security and surveillance equipments. It also modular-designs both hardware and software with flexibility for different configurations, various scales of applications and future expansion.

Jentech Precision Industrial Company Ltd. provides tooling, precision metal stamping, custom insert molding, injection molding, and assembly solutions for medical, consumer electronics, semiconductor, automotive, appliance, and micro electronic markets to a wide variety of industries.

Huagong Tech Co., Ltd. manufactures laser equipment, laser false-proof products, sensitive electronic components, optical telecommunication products, and biopharmaceuticals.  The Company also develops computer software and provides computer system integration services.

FPT Corp is an information and communication technology company. The Company provides services in mobile distribution, systems integration, software outsourcing and development, Internet and e-media content, and computer assembly.

Innolux Corporation manufactures TFT-LCD, LCD models and LCD monitors. The company also provides research, development, manufacturing and retails business.

LOTES Co., Ltd specialize in design and manufacture of connectors, CPU Socket, Coolers and Antenna for Notebook Computer, Personal Computer, Mobile electronic device and Ditial Video.

AAC Technologies Holdings Inc designs, develops and manufactures a broad range of miniaturized components that include speakers, receivers and microphones in the acoustic segment and others such as haptics vibrators, RF and antennas, and optical lenses. AAC's products are found in mobile devices such as smartphones, tablets, wearables, ultrabooks, notebooks and electronic book-readers.

AU Optronics Corp. manufactures and markets thin film transistor-liquid crystal displays (TFT-LCDs) and plasma display panels (PDPs).  The Company sells its products in Taiwan and exports worldwide.

LG Display Co., Ltd. develops and manufactures digital display products.  The Company's products include thin film transistor-liquid crystal displays (TFT-LCD) for notebook and desktop computer monitors, TVs, mobile phones, and medical equipment.  LG Display provides its products mainly to overseas markets.

Universal Scientific Industrial (Shanghai) Company Limited develops, procures, manufactures, provides logistics and maintenance services. The Company's main product types include communications, computer and storage, consumer electronics, industrial, and other related types.

Universal Scientific Industrial (Shanghai) (601231 CH)

Universal Scientific Industrial (Shanghai)

Vontier Corporation operates as an industrial technology company. The Company offers environmental sensors, fueling equipment, field payment hardware, remote management and workflow software, vehicle tracking, and fleet management software solutions. Vontier serves customers worldwide.

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Vontier Corp (VNT US)

Vontier Corp IPO Preview

Vontier Corp (VNT US) is a carve-out of Fortive Corp (FTV US)'s mobility infrastructure business. Vontier Corp is getting ready for an IPO in the...

Douglas Kim

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