Acquisition StrategyThe call gave greater confidence in the strategic rationale of Coats' acquisition of Ortholite.
Financial PerformanceFinancially, the headline 10x EV/EBITDA multiple compares well to the 2022 Texon / Rhenoflex acquisitions, especially given OrthoLite generates 28% EBITDA margins compared to the 2022 acquisitions at 16%.
Market PositionStrategically, this looks like a sensible move, acquiring what is the market leader with 36% market share and establishing a 'super Tier 2' supplier.