IP Fieldwork
Episodes
Markel Group: Capital Allocation
25 Feb 2026
Contributed by Lukas
Teqnion: Scaling M&A and Improving Subsidiary Operations
28 Aug 2025
Contributed by Lukas
Perimeter Solutions: Moat & Competitive Threat
13 Jul 2025
Contributed by Lukas
This episode explores our historical work on Perimeter Solutions, a leading US aerial fire retardant company, including the competitive threat, how re...
Constellation Software & Proprietary M&A Sourcing
21 Jun 2025
Contributed by Lukas
This episode explores how Constellation Software sources new deals compared to other acquirers such as Vitec Software and Röko, the Swedish industria...
IP Fieldwork Podcast: The Danaher Business System
21 Apr 2025
Contributed by Lukas
This podcast explores our learnings of the last five years studying Danaher's Business System through tens of hours of interviews with Former Danaher ...
Bergman & Beving: The Capital Allocation Model
28 Feb 2025
Contributed by Lukas
This interview with Magnus Söderlind, the Current CEO of Bergman & Beving, explores how and when the company deploys additional capital for M&A or ca...
Primary Research Methods: Vetting Executives
24 Feb 2025
Contributed by Lukas
This episode explores how we vet the quality and competence of executives before we interview them.
Primary Research Methods: Submitting Projects to Expert Networks
30 Jan 2025
Contributed by Lukas
IP Fieldwork Podcast: Lifco vs Halma, M&A Team Structure & Incentives
23 Jan 2025
Contributed by Lukas
Fever-Tree: A Distribution Moat or Commodity?
17 Jan 2025
Contributed by Lukas
This episode explores the history of our primary research on Fever-Tree, why the stock has struggled for years, and whether the company has a distribu...
FTAI Aviation
27 Dec 2024
Contributed by Lukas
We explore how FTAI is approaching CFM56 engine repair relative to competitors, the challenges in fixing core modules, and the potential long-term gro...
Danaher: Cytiva & Bioprocessing Moats
21 Dec 2024
Contributed by Lukas
This podcast provides insight into our research process behind our recent published work on Danaher's Cytiva bioprocessing business. We explore: How ...
Primary Research Methods: Working with Expert Networks
21 Dec 2024
Contributed by Lukas
This episode focuses on common mistakes investors make when submitting research projects to expert networks. We explore: How to submit executive cal...
Primary Research Methods: Our Process
21 Dec 2024
Contributed by Lukas
This is the first episode in our "Primary Research Methods" podcast series exploring the art and science of primary research: The IP primary research ...
IP Fieldwork Podcast: Lifco vs Halma Org Structure
09 Aug 2024
Contributed by Lukas
This podcast shares context to our recent research on how industrial acquirers like Lifco and Halma are organised to scale. We explore: How Lifco and ...
Loar Group: Aerospace Parts Quality
06 Aug 2024
Contributed by Lukas
Loar is a ~$5bn listed aerospace supplier of mission critical parts. We explore: Why there are few TransDigm replicas Loar vs TransDigm proprietary i...
M&A and Purchase Price Accounting
21 Jul 2024
Contributed by Lukas
This podcast was recorded in April 2024 and explores the intricacies of purchase price accounting. We explore: How companies define 'identifiable inta...
Ashtead Investor Day 2024
08 Jul 2024
Contributed by Lukas
In this episode, we discuss our recent visit to Atlanta for Ashtead's 2024 Capital Markets Day including: Potential challenges as Ashtead scales to n...
The Gym Group, Basic Fit & Discount Gyms
01 Mar 2024
Contributed by Lukas
In this episode, we explore our recent published research on discount gyms discussing: The key questions we've been studying around mature gym economi...
AMZN Retail & IP Company Learning Journeys
23 Jan 2024
Contributed by Lukas
In this podcast, we explore our new content format "IP Company Learning Journeys" which curates In Practise primary research. Each journey (accessib...
TransDigm Group Podcast
15 Dec 2023
Contributed by Lukas
In this episode, we explore our recent research on TransDigm and discuss: How traditional OEM's approach OE and aftermarket pricing vs TDG How TDG's a...
Spotify Podcast Advertising
08 Nov 2023
Contributed by Lukas
We discuss our recent research piece on Spotify's push into Podcasting and how it plans to monetise shows via advertising. We explore: How to segment ...
Wayfair: CastleGate and Last Mile Delivery
27 Oct 2023
Contributed by Lukas
We discuss our recent research on Wayfair CastleGate and its logistics offering to suppliers. We explore: How furniture dropshipping compares to Wayf...
Zara & SHEIN Supply Chain Analysis
24 Sep 2023
Contributed by Lukas
We discuss how SHEIN has structured its supply chain relative to incumbent fashion retailers. We explore: Zara and SHEIN's supply chain philosophy Ho...
Constellation Software: Operating KPIs
14 Sep 2023
Contributed by Lukas
We discuss the process and structure of our recent analysis on Constellation's 5 operating KPIs. We explore: How CSI reports revenue and cost lines i...
HEICO / Wencor
10 Sep 2023
Contributed by Lukas
We discuss the process and structure of our recent analysis on HEICO's acquisition of Wencor. We explore: The structure of the aftermarket value chain...
Credit Acceptance
06 Sep 2023
Contributed by Lukas
We discuss the process and hypotheses we're testing in our recent survey with CACC dealers. We also explore: The two core questions we explore in the ...
Constellation Software: Altera Acquisition Analysis
11 Aug 2023
Contributed by Lukas
We discuss the year-1 performance of Altera, CSI's largest acquisition to day, and share our learnings from 6+ hours of interviews with Former Altera ...
Constellation Software & VMS Competition
11 Jul 2023
Contributed by Lukas
We discuss the 6-month research project that led to our report on CSI's competitive risks. We discuss why it seems everyone today is rolling up VMS an...
Burford Capital
07 Jul 2023
Contributed by Lukas
We discuss the history of Burford Capital and more specifically: Why Muddy Waters' short was perfect timing Litigation finance as an asset class vs ot...
Costco UK & Europe Store Opportunity
03 Jul 2023
Contributed by Lukas
We explore our research approach to exploring Costco's store growth opportunity across Europe and the UK. We discuss: How the UK is a unique market...
Ashtead & Equipment Rental
29 Jun 2023
Contributed by Lukas
In this audio-only analysis, we explore Ashtead and the equipment rental business. We discuss: Evolution in US equipment rental market structure Ash...
IP Podcast: Diploma PLC
28 Jun 2023
Contributed by Lukas
In this episode we explore why we've been studying Diploma PLC, the UK-listed value-added distributor, for the last 12 months. DPLM has compounded EBI...
Serial Acquirers
07 Jun 2023
Contributed by Lukas
Last month, we visited Stockholm for Redeye's Serial Acquirer event. We met CEOs from Bergman and Beving, Lagercrantz, Röko, and many other Swedish c...
Bergman & Beving
05 May 2023
Contributed by Lukas
In this audio-only analysis, we explore: The complex history of B&B and what Lagercrantz's history can tell us about B&B Luna Group and how to segment...
Amazon.com Structural Advantages vs Traditional Retail
02 May 2023
Contributed by Lukas
In this audio-only analysis, we explore Amazon.com's structural advantages including: Why there is a negative narrative from investors around Amazon's...