Operator to Capital Allocator with Nick Howley

This episode is brought to you by:

Tegus. The team at Tegus has built a full company intelligence platform aimed at streamlining the investment research process. In preparation for the 50X series, we actively used Tegus to gain qualitative insights beyond traditional reported data. To learn more and enjoy a free trial, visit tegus.co/50x. 

[00:00:00] – 50X Introduction

[00:01:56] – Sponsorship: Tegus

[00:05:58] – CEO Time Allocation Post-IPO

[00:09:08] – Attracting Long-Term Shareholders

[00:10:00] – Evolution of Board Post-IPO

[00:11:06] – Approach to Leverage and Protecting Downside

[00:15:16] – Navigating the Great Financial Crisis

[00:18:43] – Approach to Special Dividends

[00:22:04] – Stock Repurchases as Alternative

[00:23:00] – Kirkhill Acquisition

[00:27:00] – Esterline Acquisition for $4 Billion

[00:33:17] – Investing in Product, Quality, and Innovation

[00:34:40] – Remaining M&A Runway

[00:36:32] – Short Seller Assault in 2017

[00:42:26] – Navigating COVID-19

[00:46:59] – Approach to Managing through Crises

[00:47:50] – Nick’s Transition from CEO to Chairman

[00:56:30] – Managing Personal Liquidity

[00:59:23] – The Howley Foundation

[01:02:57] – Snapshot of TransDigm Today

[01:05:11] – Lightening Round

[01:10:18] – TransDigm’s Influence on Nick’s Life and Investment Philosophy