Elias Sabo: Yes, I mean, if there’s anything and it’s one of the things I wanted to point out with Arnold. The purpose of doing that is – was really to suggest that the positioning of our companies is so much better today than it’s been in prior years. And some companies that even were difficult like Arnold to turn around, I mean, I got to – again complement Dan Miller and the management team, they took something that was a very difficult situation and have created a really incredible company with a lot of legs and a lot of growth and it’s positioned in the perfect part of the economy, right? Electrification and we know with that the green economy is something that regardless of what happens in the macroeconomics, global macroeconomic picture, the green economy is still going to grow and it’s still going to drive growth.
And so, I use that as one example, but I could go across the board, all touring with management team that we have in there, Terry and his team are doing incredible things to drive efficiency and to grow margin and to grow revenues and we’re seeing it. And I could go across pretty much every one of our companies and tell you that they are better positioned today even if they’re suffering a headwind. I mean, Pat mentioned it. BOA is going to grow their model count by over 10% this year compared to last year. They are taking market share. So we can’t really like – if I look at everything that’s happening and I look at the management and the execution that’s going on. There’s nothing that suggests that our long term growth rate would be any different than what we suggested.
And in fact, if anything, it’s probably higher probability of achieving to exceed right now. On the other – on top of that, as you guys know, Advanced Circuits was a great company, but it did not grow. It was materially below our consolidated growth rate. So just by virtue of removing a company whose growth rate was kind of GDP or a little less than GDP, and we’re kind of high single-digit to low double-digit grower that is accretive to growth. So there is nothing obviously nobody likes to go through conditions like we’re going through and trust me no one in our firm is kind of happy we’re doing this. But I don’t know what we could do differently other than maybe next year – or last year not supplying our customers so that the comps were easier.
But if you think about what’s happening and how our management teams are executing, they are executing at an extraordinary level. And I think when we get through this destocking we’re going to see our core growth at least be at the levels we’ve outlined to you.
Matthew Howlett: Yes, you’re right. The comps – just throw everything off. I mean, this huge year in 2021. So absolutely, I recognize that and I appreciate that and it’s a great target. And I guess that falls on to the question, I mean, you guys are long-term holders. That’s one of the beauties of the structure. I mean, the bankers, the conversations you have with bankers today about your portfolio you were very close toward IPO on 5.11 before it shut? If things do rebound in the second half, I mean, are you being approached that maybe there could be a window, maybe there’s a stack out there that’s for something? Could you look to get rid of, sell some of the smaller stuff out there? And what can we – in terms of that, could we expect something?
Would you want to give Kurt a head start, more capital, you could buy back stock, a little more stock? And what – talk to me about the bankers are saying – and what your appetite is to maybe approach the capital markets in the back half of the year?
