Special purpose acquisition companies (SPACs) have generally fallen out of investor favor, and although Everarc (LSE:EVRA, Financial) shares were never fully caught up in the SPAC excitement, shares traded lower as the air was let out of the group more broadly. This price drop occurred despite Everarc’s announcement of plans to purchase Perimeter Solutions, a maker of firefighting products and specialty lubricants. In general, investors seem to have taken little notice, but we are eager to learn more as the company discloses additional information in the coming months.
From Wallace Weitz (Trades, Portfolio)'s Partners III Opportunity Fund second-quarter 2021 letter.
