Q: If you had to choose between CSU and LMN, which would have more growth going forward?
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5i Research Answer:
For outright growth, LMN likely has more potential simply due to it's smaller size compared to CSU. A $50 mln acquisition doesn't move the needle a whole lot at CSU but would be more material to LMN. Meanwhile, there are likely a lot more $50 mln deals that are at attractive prices out there compared to say $100+ mln deals. Of note, in the 3Q LMN's growth rate was significantly higher than CSU's.