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However, they have not been associated with Mac since Matco Tools was formed in 1979. Former corporate owner Danaher spun off several subsidiaries, including Matco, in 2016 to create Fortive. [4] Fortive, in turn, spun off Matco and other brands as Vontier in 2020. [5]
Fortive Corporation is an American industrial technology conglomerate company headquartered in Everett, Washington.The company specializes in providing essential technologies for connected workflow solutions; designing, developing, manufacturing and distributing professional and engineered products, software and services. [1]
Vontier Corporation is an industrial manufacturing company headquartered in Raleigh, North Carolina. It owns the brands Gilbarco Veeder-Root , Matco Tools and Teletrac Navman, including subsidiaries Hennessy Industries, Gasboy, and Global Traffic Technologies (GTT).
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Danaher spun off several subsidiaries, including Gilbarco Veeder-Root, in 2016 to create Fortive. [11] In 2018, Gilbarco Veeder-Root announced acquisition of Midco Limited, an Indian fuel dispenser manufacturer based out of Mumbai. Midco has a production unit in Vatva, Gujarat with installed capacity of 50,000 nozzle pumps per annum.
The tax-free spin-off is expected to take a year to complete. "The most likely buyers of these cable channels are private equity firms or other media conglomerates," said Emarketer analyst Ross Benes.