Vontier Corp (NYSE: VNT)

Vontier Corporation is a global industrial technology company uniting productivity automation and multi energy technologies to meet the needs of a rapidly evolving more connected mobility ecosystem. The company is headquartered in Raleigh North Carolina and serves three end markets convenience retail fleet solutions and auto repair marketing its products and services to retail and commercial fueling operators convenience store operators car wash operators electric vehicle charging network operators fleet owners operators and commercial vehicle repair businesses. Vontier operates research and development manufacturing sales distribution service and administration in approximately 25 countries across North America Asia Pacific Europe and Latin America.

Vontier generates revenue through the sale of equipment software and related services across its three operating segments. The company offers convenience retail operating platforms point of sale and payment solutions remote diagnostics and site management tools workflow automation solutions data analytics operating software platforms for electric vehicle charging networks integrated solutions for alternative fuel dispensing and IoT based fleet telematics. It also provides aftermarket vehicle repair tools toolboxes automotive diagnostic equipment and software through a network of mobile franchisees as well as franchise fees and financing programs. Additionally Vontier supplies environmental monitoring leak detection systems forecourt controllers vapor recovery equipment and fuel dispenser systems for petroleum generating recurring revenue from aftermarket parts and service offerings.

The company operates through the following segments Mobility Technologies Repair Solutions Environmental & Fueling Solutions.

• Mobility Technologies provides digitally enabled equipment and operating software solutions to drive automation productivity and compliance across the mobility ecosystem. Offerings include convenience retail operating platform point of sale and payment solutions remote diagnostics and site management tools workflow automation solutions data analytics operating software platform for electric vehicle charging networks integrated solutions for alternative fuel dispensing and IoT based fleet telematics. The segment serves major end markets with tailored solutions. Invenco serves convenience retail stores energy retailing providers and fleet operators globally providing a network of connected solutions including devices software APIs and services to improve productivity automation compliance and safety helping customers deliver better consumer experiences increase revenue yield and generate higher margins. End to end solutions ensure uninterrupted operations for customers site 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. Universally compatible modular composable cloud connected solutions are designed to integrate seamlessly with one another as well as third party offerings enabling customers to extend and rapidly deploy new features across their network. Mobility Technologies believes it is uniquely positioned to deliver end to end technology solutions at scale to customers enabling them to manage changing consumer preferences labor shortages increasing site complexity and technology investments and the rising cost of compliance.

• 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 us and resell primarily to professional mechanics directly. To complement our offering of vehicle repair tools we have developed a suite of diagnostic tools and software to enhance repair shop workflow and strengthen relationships with our customers. We also generate sales from initial and recurring franchise fees as well as various financing programs that include installment sales to franchisees. We believe that Matco Tools integrated workflow and diagnostic solutions are well positioned to capitalize on the increasing complexity of vehicles as advanced driver assistance systems and other vehicle automation systems become prevalent. Customers in this segment choose suppliers based on several factors including relevant innovative features convenience and the other factors described under Competition.

• Environmental & Fueling Solutions is a leading manufacturer and provider of solutions to improve safety environmental compliance and fueling efficiency globally. Through brands including Gilbarco Veeder Root and Veeder Root we serve 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. Our large installed base of products provides a recurring revenue stream for aftermarket parts and service offerings. We believe our substantial scale and sophisticated technology offerings strategically position us to capitalize on key market trends including fueling site consolidation and complexity increasing regulatory requirements and global regulations and aging infrastructure. Customers in this segment choose suppliers based on several factors including product features performance and functionality supplier geographic coverage and other factors described under Competition.

Vontier believes it is a leader in many of the markets it serves Although its businesses operate in highly competitive markets the company cannot determine its competitive position precisely because competitors vary widely across product lines and geographies It encounters a wide variety of competitors including well established regional competitors companies that are more specialized in particular niches and larger companies or divisions of larger companies with substantial sales marketing research and financial capabilities The company faces increased competition due to the entry of low cost manufacturing locations and ongoing consolidation in certain markets Management believes Vontier holds a market leadership position in most of the markets it serves Key competitive factors include price quality performance delivery speed applications expertise distribution channel access service and support technology and innovation breadth of product service and software offerings and brand name recognition.

Vontier serves retail and commercial fueling operators convenience store operators car wash operators electric vehicle charging network operators fleet owners operators and commercial vehicle repair businesses Through its Matco Tools franchise network it also reaches professional mechanics who purchase tools and equipment for vehicle repair The company additionally supports independent and company owned retail and commercial fueling operators with environmental monitoring leak detection forecourt control vapor recovery and fuel dispensing solutions Its customer base spans a diverse set of end users in the mobility ecosystem ranging from small convenience stores to large fleet operators and vehicle service providers.