The CoVest Select team on launching CoVest and their $OEC thesis

Kyle Mowery and Jake Miller come on the podcast to discus their new CoVest Select venture and then dive deep into their thesis for Orion Engineered Carbons (OEC).CoVest Twitter Account: https://twitter.com/CoVestSelectChapters0:00 Intro2:20 CoVest overview5:05 OEC overview9:05 What is the market missing with OEC?11:45 The supply demand dynamic for rubber black14:15 Why isn't this a simple generic commodity business?18:20 Are management's 2025 midcycle EBITDA targets reasonable?21:00 Why can't a bunch of supply come online in the medium term?26:05 How critical and replaceable is carbon black?29:35 Recycling carbon black?32:10 Will EPA capex really end?36:10 OEC's debottlenecking investments38:20 How the energy crisis effects OEC47:30 Why OEC over competitors51:10 Capital allocation and share buybacks55:40 CoVest overview59:55 Why work with CoVest1:05:05 Timeline for a CoVest investment