It's essentially a rollup compny of avionics, aviation, and tech parts manufcturers. I looked at it shortly after their ipo in 2007 and passed

. They weren't cheap then either, and based on there moat and fcf I don't think they will get cheap. Alan Fournier of Pennant bought them early on and still holds all the shares. Big winner for them.
Warburg Pincus was the sponsor. I've tracked a number of Warburg Pincus companies that have done very well after ipo, so I watch for them now. Don't want to make the same mistake again.