________________________________________________________________________________________ Myers Industries Inc .
materials to under carriage repair equipment . Myers has great pride in working to fulfill delivery of customer orders within 24 hours . With an aging car fleet and tailwinds from the growth of sales of electric vehicles , which wear out tires 20 percent faster than conventional vehicles , the company is well positioned to capture this auto-aftermarket growth opportunity .
Both business segments have been impressively profitable , which has opened opportunities for the company to take on organic growth , as well as growth through acquisitions .
Grant notes the current challenges in the mergers and acquisitions ( M & A ) landscape stating : “ The industry experienced a significant boom in acquisitions following the pandemic . This trend was was driven largely by low-interest rates . Now , with higher interest rates , sellers have been reluctant to move from inflated prices , which buyers are not willing to pay .” Grant adds that at Myers ,
there is a ‘ very strong balance sheet ’ and that the business is disciplined and patient for acquisition prices to stabilize . “ When they do , we will be ready to move quickly .”
He further emphasizes the company ’ s active pipeline of acquisition opportunities , underscoring Myers ’ commitment to exploring strategic growth avenues . This matches with the leaders ’ vision of scaling the company ’ s operations .
To make its growth strategies plausible , Myers places significant importance on its company culture . From what we learn , the business adopts a servant leadership approach , as highlighted by both Grant and Mike . “ The culture was one of the aspects that attracted me to Myers when I joined six months ago . Mike ’ s focus is on how we can support our employees . When we do our job well , and help support each other , it encourages those in our team to improve their own contributions . This then ripples across the organization , and ultimately
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