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In our early years, for example, when we bought Maintech International, we negotiated hard to buy their industrial services, but not their specialty chemical operations.

But later on, we went against these principles. For instance, we acquired AlphaTech that was primarily a products distribution company, and therefore, outside of our competency...

For instance, we acquired AlphaTech that was primarily a products distribution company, and therefore, outside of our competency. Another acquisition, Sizemore, did not have expertise in small pond dewatering; therefore we could not leverage its resources for our existing customers.

C.

We should have paid a great deal more attention to leveraging economies of scale, corporate values, and core competencies throughout all acquired companies...

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