In this episode, Chris sits down with Bryan Perkins, Founder & CEO of Novaria Group, a Fort Worth-based aerospace manufacturer he started in 2011 and sold to Arcline last November for $2.2 billion.

Bryan didn't set out to be in aerospace. He needed a job. But once he was in, he saw a niche nobody else wanted - high-mix, low-volume, esoteric parts that go under the radar - and spent 15 years rolling up 27 companies into one of the biggest businesses most people have never heard of. His North Star from the start was TransDigm, a company he'd been studying since his 20s.

Chris and Bryan unpack the full operator's playbook behind that arc, how his thinking has evolved across a family office, KKR, and now Arcline, and where the entire aerospace ecosystem is headed by 2030.

They discuss:

Timestamps:
(0:00) Intro
(01:22) "You Can't Outmanage a Bad Capital Structure"
(05:00) Underwriting Deals
(12:17) Novaria's Strategy in Plain English
(15:04) IP Moats Over Commoditization
(17:04) Why Making an Aerospace Washer Is Harder Than You Think
(21:56) Business Model Business vs. Single-Product Business
(27:07) Patience and Decadal Thinking as a Proprietary Deal Flow Strategy
(30:49) How Unglamorous Early Jobs Build Real Credibility
(38:01) Centralized Controls, Decentralized Operations
(44:44) Leveling Up: Founders Who Start with the End in Mind
(55:11) What Is an Institutional Compounder?
(1:03:05) TransDigm as North Star - Carving a Differentiated Strategy
(1:08:41) Why Aerospace and Automotive Factory Playbooks Don't Transfer
(1:14:10) The Road to 2030: Demand Surge, Space Economy & New Aircraft Design

Presented by Airshare:

Trusted across the country for fractional ownership, jet cards, charter, and aircraft management, Airshare gives you a smarter way to fly private - over 25 years of experience, operating their own fleet, with the top safety ratings in the industry. Drive up to the FBO, walk on, and go. Go to flyairshare.com to learn more.

Sponsored by Collateral Partners:

Collateral Partners builds institutional-grade investor materials for private credit, private equity, real estate, and family office firms - the kind of marketing collateral that helps you close capital. Learn more at collateral.com/fort.

Chris on Social Media:

Visit our website: https://www.powerspod.com/
Leave a review on Apple: https://bit.ly/45crFD0
Leave a review on Spotify: https://bit.ly/3Krl9jO