It is the one year anniversary since the formation of Rudolph Capital and it has been one for the ages. We closed our first transaction with DeIorio and got off to a fabulous start. My new friends in Utica have lived up to every lofty expectation. Our second platform company was under LOI and then the world changed with Covid-19. Over 25 years we have experienced recessions, financial market turmoil, raw material price volatility, and numerous other one-time events. Covid-19 is a different animal. It impacts everyone, but impacts everyone in a different way. We had to review our supply chain, customer demand assumptions, operating procedures and employee practices to make sure we could safely deliver our goods and services. While we are not yet out of woods, valuable lessons have been learned. But the tried and true virtue that has held in every tough situation we have experienced, and certainly is holding true today, is working with honest, smart and caring people as they will always find a path through.
We remain active in the search our next acquisition and look forward to working with you in the future.