The Borlaug Report #2: Avantor
Teenage Thermo Needs Activist Parents
Thesis Introduction
Since going public, Avantor’s (NYSE:AVTR) share price has been a rollercoaster. However, its fundamentals really haven’t, at least relative to the average company with private equity levels of leverage. The company trades more in-line with its chemicals roots today than its current role in the life science tools industry might otherwi…