TransDigm Group, Inc. (TDG, Financial), a commercial aircraft manufacturer focusing on the aftermarket, gained 15% in the quarter. Commercial airlines are much more healthy and are spending more to maintain their fleets. Transdigm reported terrific results, featuring 9% organic revenue growth and 23% total growth. They announced another interesting acquisition during the quarter. We expect continued solid organic growth and accretive acquisitions and/or shareholder-friendly return of capital.
From Baron Funds' first quarter 2014 commentary.
