Hello,
$RFG.MI has gained >30% since it was first highlighted on The Mikro Kap in January. And as covered in the most recent portfolio update, the business is firing on all cylinders this year.
Last month, I visited RFG’s headquarters in Ronco Scrivia—home to their OMP factory, R&D lab, and distribution center—and sat down with the CEO and CFO. Although I haven’t yet visited their Bell helmets factory in Bahrain, spending extended time with management there gave me a clearer view of how they think, how they operate, and what truly sets this business apart.
Here are the important takeaways from my visit, with a focus on their push into military and law enforcement—an area I don’t think the market has fully priced in yet, and one that will likely determine whether there’s still (meaningful) upside from here.