Company. Perimeter Solutions: Replicating the TransDigm Model

On this Company episode of The Synopsis we cover Perimeter Solutions. Perimeter Solutions is the sole provider of a key fire fighting product, as well as other fire safety solutons. They went public through an acquistion vehicle controlled by Transdigm Founder and Billionaire, Nick Howley, as well as "The Outsiders" Author, William Thorndike. Nick Howley wants to apply the same model that made Transdigm so succesful to Perimeter Solutions. 

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Show Notes

(0:00) — Intro

(0:47) — Background Story on their Main Firefighting Product

(4:42) — Corporate History and Everarc SPAC

(7:57) — Aren’t SPACs a red flag? Weird Compensation Agreement

(13:03) — Business High Level Overview: Fire Safety and Specialty Products

(18:45) — Adjusted EBITDA???

(20:30) — Figures and Margins

(24:30) — Competitive Advantages of each Business Lines

(40:17) — Growth Opportunities

(53:22) — Capital Allocation and Transdigm Parallels

(1:04:53) — ROIC

(1:07:55) — Odd Compensation Arrangement

(1:15:47) — Valuation

(1:17:34) — You Should Know This

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Disclaimer

Nothing in this podcast is investment advice nor should be construed as such. Contributors to the podcast may own securities discusessed. Furthermore, accounts contributors advise on may also have positions in companies discussed. At the time of recording contributors had a position in Perimeter Solutions. Furthermore, accounts contributors advise on also may have  a position in Perimeter Solutions. This may change without notice. Please see our full disclaimers here:  https://speedwellresearch.com/disclaimer/