At first sight, this company has the ROIIC, low debt profile, and a reasonable stock valuation to be a successful investment but it’s an early-stage compounder that’s got to build the track record to be called a strong serial acquirer.

Just like any other compounder, it does not come out of nowhere, and each journey’s gotta start somewhere. Waiting for the moment when the compounding’s evident also makes one leave money on the table. So, this is a very strategic small cap growth "bet" at a very good valuation on a hidden segment.