New Entrant Cobalt SP Competing Vs Mega-Integrators: Convergint, Everon, And Pavion Analyzed

****** ** ** *********** ** *** *****'* ******* ******** integrators, *** *** **** ** ***** up ******* ******** ****-*********** **** ********** and ****** ** ** *****?

** **** ******'* ******** ** ** significantly ********* **** **********, ******, *** Pavion, ****** ** * ************* ********* strategy ** ******'* *****, ******.

**** ******** ****** ******** *** ***********, strengths *** ********** ** **** ******** compared ** *** ************ **** ** security **********. *******, ** ******** ** analyzing *** ******* ****** **** ****** SP *** ****** ************ **** **** on *** ******* ******** *********** ******.

3 *********** ***********

** **** ***** *********** *********** ******* Cobalt ****** ********** ** **.:

(*) ******** ********** **. ******** ********: The ************ ** **** ******** ** to ******* **** ******** ********** *** are ****** *******, ***** ****** **** the ********, ********* * ******** ** hiring ***** *** ************* ********* **** high ******** *** ******** ********.

*** *** **** **** ********* ******** significantly ******* *** **** *** ********** Cobalt ** *******. ** *** ******* domain ********* *** ************ ************* *** critical ** ******* ******** ***********, *** will ****** ******* ****** **** ********. However, ** *** ******* ***** ****** and ******** *** ******** ****, *** will **** ********** **** ******.

(*) ****-****** *******: ***** **** ** firms ****** ** ******* ********** ****-***, Alpine *********** *********** ** ****-*** ** blue-collar **********. **** *** *** **** fundamental ******** ****** ****, **** ***********, electrical, ********, *******, ********, ***.

** ******* **** ***** ****** ** advantage ***** **** **** **** **** focus *** ********* ** ******* ** labor ******* **********.

(*) ********* ********** ******** ****** ** unifying ***** * ****** *****. ** view **** ** ******** ************* ***** Alpine ** ******* ******** *** ********** of ***** **********, *** ** ***** help ****** ***** ***********. ***** **** is ** ********, ** ** *** find *** ********** ******** ******** ** contrast ********** ** **********. *** **** where ** *** **** ** ** acquiring ******** *********** *** **** ********* the ***** ** ***** ******* * point ** ******** ***** ****** *** money.

"Prosaic **********" ****** *******

**** *** ********* **** ******'* *** and ******* ***** "******* **********":

****** **** ** ** *** "**** work *************" ** ********** ** ******* industries **** *** *** *** ********** but **** *********** *******, *** ******* critical *** *****-*********:

** ******, ** ** ******** *** services, *** ** ******** **** **** migrating ** ** *** **** ********. So **'** ** **** ******* **********. Some ** *** **** ***** *** residential, ******** *** ****, *******, ***********, home ****** ****. ** ********, *******, cycle **********, *****, *******************, *** **** **** **** ** common ** **** ****'**big **********. They're **********. *****'* * *** ** *******. They **** ******predictable *******. They're mission ********, but they're labor *********. The moniker I tell our team all the time is we're going to do the hard **** *************. [emphasis added]

Outsider **********

* **** ******* ** **** ****** does ** ***** ******** *********:

** ******'* *** ******** *** ******** with ***** ** *****:

** ****'** ****** *** **********, *****? That's ***** ****** *** ********. **** we ***** ** *** **** ****** correlated ***** ** **********. ****, * don't **** **** ***'** **** ** much ** * **** ***** *** you ***. ***. ** ******** ** hire. ** **** *** **********. ********** is **** **** ***********, **** *****, you ****, ** ***number *** ***** ** *** **** ** ***.

**'** ******* ****** ******** **** *** roles, * ***** ** **** * returns **** *** *********, *** **** to **** * ****** ****'* ********* at *** ****. *** *** ****** is **** ** *** *** * low ********** *** **** *********,person ***'* **** ***** **** ** ********** **** ****** ********** ****, and in a short period of time, they will eclipse *** **** *********** ****** and then have a higher trajectory for the remainder of that time.

*** ********** ** ***** **'** ******** the *****, ******* ** **** ********* in *** ********* **** **** **** 200 *** ** ************, *** **'** putting *** ********** ** ****** ***** one ** ***** *** ** ************. And ** ****'* **** * **** source ** ***** *** **.

**** ** ************ ********'* ********** **** ****, ****** **** ***** ****** **** education ** ******-****** ************:

***** **** ** *** ******** ********** acquisitions *** ********* ***** ********, ******** of ******** ** *** ***** **** are ******* ***** *****. *** *******,******* ****, * ***** ***** ********** ******** and ****** *******, *** **** ** Milwaukee ** *** ******* ********. ****,****** *** ** ******* ***** *** Industrial **** *******'****** ******* **** *** ***** ******** as *** ****** *******, * **** *** ******** **** USC ***** ** **********.

Motivating ******** "****" / *** ****** *******

*** ***** ********* **** ********** ****-*** is *** ******** ********* ** *** entrepreneurial ****** *** ***** ** *** mega-integrator. ** * ******* ********, * key ** ********* ** *** ********** of ***** *******. **** ***** ******** when *** ******** ***** ***** ** replaced ** * ******* **** *** less ****** ** **********.

* ********, ****, ** ******'* ******* novice *** / **, ** **** the ****** **** *** ******* *** going ** ** ****** ********* *** their ***** ******, **** ****** ** going ** ******* ******* ****** **** conventional ******** ********** ***.

*** *******,* ****** *********** * ****** *** **** **** went ** ******** *** (***** ******'* CEO **** *** *******) ********* *** pros *** **** ** ******'* *** in ******** *******:

**** ** $**** **** *** ******* $200k ** ***** *** **** **** 5 *****. **'* *** ***********. *** it ** * **** **** *** a *** ** ****** *** ****** is ***** *** ******* ****** ******* profiles *** ***** ****** ** ** attracts * *** ** ********* **** way. **** ***** ****** ****** ******* one ******** ****** *** ******* ** the *** ******* (***) *** ***** Alpine **** *** *** **** ** credit **** ****, *** ** * pretty ***** ******/*******, ** *** ***** of ****** ** **** ***** *** attractive.

*** ******** ** *** ***** *** comment--it ***'* **** **********. *** **** to ** ******* ** ****** *** risk *** *** ** ******* * company ** *********** ** ************. *** the ******** *** ********* *** **** obvious *** **'* * ****** *******.

** ******* *** *** *** ** of * ******** ********** ** ** 20s ****** **** * ***-****** ******, my ********** ** **** * ********, ambitious, ***** ****** *** ********** **** senior ******** ******** ******. ****** / Cobalt's **** **** **** ** **** easier ***** **** *** ****** *** overall ********, ***** ** ********** ** themself ***** *** **** ****** **.

*** ******-**** *****, ** *** ********* points ***, ** **** ***** *** of ** ********** ** ********* (** other ******* ******) ** ******* ** exciting ***** *** ** ******** *** talented, ********* ******* ******, ** ****** / ****** **** **** ** **** how ** ******* *** ********* *** regional ******* ** *** ****-****.

Separate ****** *** *** ************

***** *** ****** **** ****** ********, Alpine's *** ********** *** **** ********** many *********:

****'* ***** *********. **** ***** * ton ** ****. ****'* ***** ** have ** *** *** ********* ** common *** *******. ** ******** ****** have ** ********* *** **********. ****'** not **********. **** *** ** ****** into *** ****** ***** **'** ************ a ****** ** *********.

Operating ********

**** **** ********, ****** ******** ** can ************* ******* *** ********* *********** of *** ************, *.*., ******:

** ***** ** *** ******** *** EBITDA ** **** *** ** ** 50 ** ***% ** *** ***** 12 ** ** ******, ******* **'** done *** ***** ******* ** *** the ******** ** **** ******** *** that ********. *** ********** ******** ** really ****, *** ***** **** ** scale, ******* *** *** ** ******* of * *** ******* ******* ********, and ******* ** ***** **** ****** financial ******* *** *** *******, *** then ******* * *** ********** **** in *****, ******** **** ******, **'* a *** ** ****. *** ********* decision ** **** ****. *** ********* part's **** ****.

*********** **** **** *** ** **** larger *** ******* ********* ** **** populous *******:

*** *** ** ************ ** **** just ****** ******* **** ** ****** because ** *** ***** *** ****** arbitrage ** *** ** * ******** company, ******* **** ** ** ** add **, ** **** * *** million ******* ******** ** ****, *********, and ** *** ** **** ***** class ******.

*** ********* ******* ** ********** *** * ******** ** ***** CEOs ** ************ **** **** ** *** ******* rollups ****** **********.

Convergint / ****** / ******

**********, ******, *** ****** *** ***** core ************: **** *** *** ** senior ******** ********** **** **** ********** in *** ******** *********** ********, *** build ************* *** *** ** ****** the ******** ********* **** **** *******.**********'* *** ***** ** ******** ******** (*** ** preparing *** ** *** ***********), ****** Convergint ********* **** ********** *** ************* throughout *** ********** ****. ******, ***** companies **** ** ***** ********** ** the ***** ** ***** ********* *** the ******** ** ***** ************* **** both ***-***** *** ************* ********.

*** ********* ** ***** ********** **** Cobalt ** **** **** **** **** to **** ***** **** *********** ** acquire, **** **** ******* ****** ******** bought **** **** *** ***********, ********* many ** *** ******* *** **** well-known ***** ** ***** *** ******** security ***********.

** *** ***** ****, ** *** Alpine / ****** ****** ** *******, they *** ** **** ** (*) acquire ******* *********** **** ****** ***** brand / ******** ****** *** (*) improve *********** ** ***** *** **** in ********.

Independent *********** ***** *******

*** ***** ** *****: *** ****** of *********** *********** ** ******* *********, and **** ******'* ***** *** ******** to ******* *********** ** ****, *** number ** *********** ******** *********** **** sharply *******.

*** ****** ** ***** ** ******* the **** ** * ***** *** of ****-*********** ******* *********** *** ****** those ****-*********** ** ***** ****** ** reduce ******* *******.

******* ****** ** *** **** ** whether * *** *** ** *********** security *********** ****** ** *** ****-********** rollups ******, *** ************* **** **** as ** ******* ** **** *** gap.

Overall ******

** ******* **** ****** **** **** become * *********** *********** ***** ****** the ********, ** **** **** * model **** ** ***** ******** ****-********** uses *** **** *** **** ****** and ************ ******* **.

** ******, ** *** ******* **** outside ******** ** ******** *********** ** unproductive ** **** ****** **** * lack ** ******** ************* *** **********, then *** ****** ******** *********.

*******, *********, ******* ** *** **** and *** ***** ****** *** ****** in *** ***** ******* ** ** running ****-***, ** ****** *** ******* to ******* ******* $* ******* ** annual ******* ** **** * *** years, **** *** ******* ****** ********* many ******** ** ****** ******* ** 2030.