Released August 4th, 2022
Rob Small - Private Equity in the Public Markets with Rob Small
Rob Small is a Managing Director at Berkshire Partners. We cover TransDigm's approach to capital allocation, Rob's position management over time, and compare TransDigm with traditional PE portfolio companies.
Business Building
Professional Investors
TransDigm Group
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Will Thorndike - The Power of Long Holding Periods
Will Thorndike is author of The Outsiders and host of 50X. We cover the hallmarks of great compounders, how the best serial acquirers deliver outsized returns, and what he's learned about developing conviction.
Nick Howley - TransDigm: Foundations with Nick Howley
Nick Howley is the Founder and Executive Chairman of TransDigm. We cover TransDigm’s foundations under private ownership, dig into its core value drivers, and explore the business's early M&A motion.
Compounding Labs: TransDigm Research
Internal case study on TransDigm’s value creation playbook, historical performance, capital allocation approach, notable crises, and peers.
Proprietary TransDigm Resources
Explore the materials used to prepare for this podcast episode, including proprietary research, original investment memos, and more.
Interview with Yen Liow, Aravt Global
Yen Liow highlights Nick Howley and TransDigm as an excellent manager and business.
Could TransDigm be the Valeant of the Aerospace Industry?
Short report speculating on price gauging, an unstable capital structure, and other headwinds that preceded a spike in short interest.
Bull Thesis in Response to Short Report
Anonymous investment case for TransDigm in response to Citron’s short report, addressing pricing, acquisitions, and leverage.
Interview with Thomas Murphy, Capital Cities
Tom Murphy details the rich history of Capital Cities, which offers a close parallel to TransDigm in its decentralized structure.
Interview with Alex Captain, Cat Rock
Interview in which Alex Captain shares his perspective on TransDigm following COVID-19’s influence on aerospace.
The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success
A book that details the importance of capital allocation and independent thinking through the stories of eight extraordinary CEOs.