DMC Global is an industrial holding company with three manufacturing businesses: Arcadia Products, DynaEnergetics, and NobelClad. Arcadia Products (~40% of sales) makes aluminum architectural building products — framing systems, curtain walls, storefronts, windows, and entrance systems — for commercial construction. Arcadia fabricates products to order in Vernon, California, and distributes them through a hub-and-satellite service center network across the western and southwestern U.S., selling primarily to glazing contractors and architects. DynaEnergetics (~44% of sales) makes perforating systems for oil and gas well completion. Its flagship DynaStage product is a factory-assembled perforating system shipped ready to deploy, versus the traditional practice of assembling systems at the well site. DynaEnergetics is vertically integrated, manufacturing all key components in-house, and sells primarily to oilfield service companies serving North American shale markets. NobelClad (~15% of sales) produces explosion-welded clad metal plates that bond dissimilar metals — such as titanium to steel — for use in corrosion-resistant industrial processing equipment like pressure vessels and heat exchangers. NobelClad operates as a project-driven, backlog-based business with facilities in Pennsylvania and Germany, serving oil and gas, chemical, and petrochemical customers. DMC's near-term priority is balance sheet deleveraging, driven by a contractual obligation that may require DMC to buy out its joint venture partner's 40% stake in Arcadia as early as September 2026.