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TIP833: PERIMETER SOLUTIONS (PRM): A NICHE MONOPOLY, ONE ACQUISITION AT A TIME
W/ KYLE GRIEVE & SHAWN O’MALLEY
TIP833: PERIMETER SOLUTIONS (PRM): A NICHE MONOPOLY, ONE ACQUISITION AT A TIME W/ KYLE GRIEVE & SHAWN O’MALLEY
26 July 2026
In today’s episode, Kyle Grieve and Shawn O’Malley analyze Perimeter Solutions, a niche industrial conglomerate built by Transdigm’s legendary founder Nick Howley using the same playbook that turned Transdigm into a multi-decade compounder. They break down how the company operates two very different segments, from wildfire retardants and airbase logistics to specialty chemicals and precision medical manufacturing equipment, each built around sticky, mission-critical customer relationships. They’ll also cover the company’s acquisition strategy, its unusual founder’s advisory fee, and the debt and litigation risks that complicate an otherwise compelling capital allocation story.
SUBSCRIBE
IN THIS EPISODE, YOU’LL LEARN:
- Why the Transdigm playbook is worth cloning
- How this management team built a public compounding machine
- Why one segment profits directly from worsening wildfires
- The chemical monopoly hiding inside a boring business
- What makes these niche products nearly impossible to replace
- How disciplined acquisitions have created so much shareholder value
- The controversial fee structure investors aren’t big fans of
- And so much more!
For the full show notes, go to this page.
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