Recently the Wall Street Journal had a front-page headline of, “Boring Utility Stocks Wow Market.” My first reaction was boring businesses are the best type to buy or sell.
A business that just does it day in and day out. No flashy stuff, no get rich quick schemes, just making, fixing, or selling something that solves their customers problems.
I came across a document we have that lists some of our client deals. The industries include:
- Plumbing
- Metal fabrication
- Food manufacturer
- Steel distributor
- Fabric manufacturer
- Pet food manufacturer
- HVAC contractor
- Trucking
- Catering
- Material handling equipment
And many, many more.
I remember an investment banker telling me his dad owned a scrap yard and what a great business it was. Boring is (almost all the time) best. Build a boring and profitable business and they will come (to buy it).