Jason Hall

You get to combine customers across these businesses.

There's a lot of ways that Jacobs can create value here.

It's going to be a little bit like, Matt, you'll love this, it's going to be a little bit like investment banks in a way that nothing's always working great.

Parts of it do great when the economy and the market's going hot.

Other parts, when there's a lot of struggle.

You think about the roofing products business, for example, we have an aging housing stock in the U.S.

There's a lot of deferred maintenance.

There's opportunity there.

That insulation business, that's largely a bet on

new home construction.

That's the largest thing there.

And their niche, because they're doing the installation of that, it's a dirty, ugly installation business to do.

Having that business is the kind of thing that home builders, they're building a community

They want the whole community done.

They're going to have one company that's going to come in and be the contractor and do all the installation.

That's how it's going to win.

Different things are going to be working better when the market's great.

Other parts are going to be doing fine when the housing market's not doing great.

Yeah.

So this may not be a popular take.