Why Invest

Leading position within critical areas of the industrial supply-chain

  • Secular trends tied to aging customer labor force, plant floor optimization, regulations
  • Technical products and service capabilities support share gains and competitive moat
  • Unique position to capture emerging growth around automation and IIoT

Strong and consistent cash generation

  • Free cash generation averaging over 115% of net income the past five years
  • Provides mechanism to self-fund growth, quickly de-lever, and drive shareholder returns
  • Self-help margin expansion and working capital opportunities provide upside long-term

History of consistent margin improvement and cost discipline

  • Investing and growing in higher margin verticals
  • Leveraging systems investments and inherent cost focus
  • Supports stronger earnings power and free cash generation

Proven acquirer in large, fragmented market

  • $70+ billion addressable market with “Acquirer of Choice” status given leading/technical position
  • 24 acquisitions since 2012 representing over $1 billion in annual sales
  • Target $100M (~3%) of annual sales growth from acquisitions

Demonstrated Commitment to ESG Practices

  • Actively advising customers on how to save energy in their operations and reduce their overall environmental impact
  • Implementing greener practices in our operations
  • Promoting diversity and continuous learning across our organization, as well as supporting the well-being of our associates and our communities