Transcript
Introduction
Will
Lots of people talk about private equity in the public markets. However, you've actually lived that. In fact, as you said earlier, at this juncture, you've spent almost exactly 50% of your investing career in each camp. 15 years in private equity and 15 years in the public markets at Stockbridge, although I realize you're still very involved in the PE side at Berkshire as an IC member these days. But I thought this bipolarity could be a useful framework to tick through a couple of interesting topics at TransDigm. I wanted to have you, if you were open to it, compare and contrast TransDigm and other companies you've been involved with over the years at Berkshire on a couple dimensions.
Comparing TransDigm with other PE Companies
Why don't we start with management team. What has been distinctive in your mind about the TransDigm team? How does it compare to other top teams you've been involved with over the years?