Serial Acquirers - 2026
Updated Deep-dive into 7 Acquisitive Industrial Companies
A year and a half after our first deep-dive into serial acquirers, we return with an updated look at seven elite capital allocators. If you’re new to the topic, we recommend starting with the original piece from 2024 — it lays the groundwork for what we cover here, particularly around return on capital and reinvestment rate.
This years’ writeup is available to everyone via the PDF below. If you’re on your phone, download it and open it from there.
The Valuation Backtest and Discussion at the end are exclusive to paid subscribers.
A note on pricing. We’re raising the annual subscription from $60 to $70 from next week. To everyone who has subscribed, both paid and free — thank you. It means more than you might think.
All the best, Ole