The Misfits: John Bean Technologies Corporation (JBT)

John Bean is one of those companies that screams "Peter Lynch stock". As much as I want to get on board, I want to see one thing first.

A Meat Stall with the Holy Family Giving Alms (The Butcher’s Stall), Pieter Aertsen, 1551, oil on panel (North Carolina Museum of Art)

One of Peter Lynch’s favorite places to find stocks was businesses that did “disagreeable” things. Not illegal activities, but the things that people don’t like to think much about because they are gross or taboo to discuss at a cocktail party: trash collection, septic tanks, gynecological examination tools, lab rats and test monkeys, payday lending…you get the idea.

I think it is fair to say that much of John Bean Technologies’ (NYSE: JBT) business falls into the disagreeable category. While we’re all happy to have food on our plates, not everyone wants to think much about the (literal) sausage making. It has been a lucrative investment for those who have owned this version of John Bean since it was spun out of its former parent in 2008.

The company has several qualities that Peter Lynch would love. It also strikes some chords with several other Misfits. That said, John Bean is another case study in whether serial acquirers can successfully complete large M&A deals.

Let’s dig in…

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