The Compounders: From Small Acquisitions to Giant Shareholder Returns

Every investor has heard of Warren Buffett, Charlie Munger, and Berkshire Hathaway. But what if there were other firms flying under the radar and taking their investing strategy to the next level-using powerful principles and techniques that you can learn from right now?

The Compounders introduces these remarkable companies to a wider audience for the first time. Discover a select group of high-performing conglomerates, led by exceptional capital allocators. These firms, operating decentralized structures in fragmented markets, redefine acquisitive growth. Unlike conventional roll-ups or turnarounds, they target smaller private businesses, often family owned, with a precise, data-driven acquisition process. And while private market investors, they are publicly listed-avoiding the usual constraints of private equity.

At the heart of these organisations lies an astonishing reinvestment engine that seamlessly bridges top-tier capital allocation and the entrepreneurial drive of decentralized autonomy.

The Compounders reveals nine of these overlooked publicly traded conglomerates from around the world, united by a common vision of top-tier value creation-and explores in depth how these companies consistently outperform industry giants like Berkshire Hathaway and major stock market indexes.

Discover the strategies, learn from the success stories, and unlock the secrets of investing in acquisition-driven compounders-where diversity, resilience and scale come together to produce unmatched financial success.

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Praise for The Compounders:

"An excellent summary of a too-little-known phenomenon ... The authors' thoughtful, analytical approach brings this story to light with great verve."

- William N. Thorndike, Jr., author of The Outsiders; founder and managing director of Housatonic Partners

"An invaluable guide for all investors. The historical deep dives serve as perfect templates to help investors find the next generation of 100-baggers."

- Christopher Mayer, portfolio manager and co-founder, Woodlock House Family Capital; author of 100 Baggers

"For anyone seeking to understand how disciplined capital allocation and decentralized decision-making can create lasting value, this book offers both inspiration and instruction."

- Lawrence A. Cunningham, director, John L. Weinberg Center for Corporate Governance, University of Delaware; editor and publisher, The Essays of Warren Buffett

"A classic in the field of long-term investing. Highly rewarding and insightful"

- Adam Gerge, managing director, AEMG Capital; co-founder, Didner & Gerge Fonder AB

"The blueprint for turning small acquisitions into generational wealth-the proven, counterintuitive strategies behind the world's greatest compounding machines."

-Tobias Carlisle, Portfolio Manager, Acquirers Funds(R)

Author: Oddbjørn Dybvad,Kjetil Nyland,Adnan Hadziefendic
Publisher: Book Press
Published: 09/02/2025
Pages: 236
Binding Type: Paperback
Weight: 0.64lbs
Size: 9.00h x 6.00w x 0.59d
ISBN: 9781917943031

About the Author
Dybvad, Oddbjørn: - Oddbjørn Dybvad has almost 20 years of experience within portfolio management. He is the co-founder of REQ and currently serves as one of three equity portfolio managers, co-managing the REQ Global Compounders fund. Prior to founding REQ he worked for 15 years at ODIN Fund Management. For the last 11 years he was responsible for the Global Mandate at ODIN Fund Management, which won the best global fund 2020 award at the Morningstar Fund Awards for its historical track record at generating alpha. Oddbjørn holds a master's degree in economics with a specialization in finance from the Norwegian School of Economics and Business Management (NHH).Nyland, Kjetil: - Kjetil Nyland has over 15 years of experience in the financial industry, spanning equity portfolio management and buy-side equity and credit research. He is currently one of three equity portfolio managers at REQ and co-manages the REQ Global Compounders fund. Previously, as a partner at Borea Asset Management, he managed Borea Global Equities, a EuroHedge-awarded long/short equity fund. He also has operational experience at Stacc Escali, a company specializing in vertical market software for financial services. Kjetil holds a master's degree in economics and administration with a finance specialization from the Norwegian School of Economics (NHH).Hadziefendic, Adnan: - Adnan Hadziefendic has over ten years of experience in the financial industry in different roles as credit analyst and senior analyst for Danske Bank and Swedbank. He is currently one of three equity portfolio managers at REQ, managing the REQ Nordic Compounders fund. In his prior role as a senior analyst, he was the author of Sweden's most extensive study on acquisition-driven compounders, titled 'What Drives Shareholder Value for an Acquisition-driven Compounder?', presenting his findings to over 100 companies' executives and boards of directors. Adnan holds a master's degree in business and economics with a specialization in finance from Linköping University (LiU) in Sweden.

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