Contrarian Corpus
Spruce Point Capital vs. Cintas Corp.

Cintas Corp. · CTAS

1 deck published between 2019-11-13 and 2019-11-13 — 73 pages, 73 analysed slides total.

initial thesis

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2019-11-13 initial thesis

    2019 11 64e7a2ab60637fabfe36f5fb_ctas_research_thesis_11 13 2019

    73pp · full_deck

    Cintas's fastest-growing fire inspection business is committing fraud while G&K integration masks financial strain — a sum-of-parts at peer M&A multiples implies 60-75% downside to $69-$107/sh.