This fits with most of Warren Buffet's acquisition practice in the last 40 or so years. He switched (mostly) from buying stocks and securities to buying highly profitable, privately held companies with good management in place and doing everything he could to keep them in place. And I remember research from a Stanford business professor about 20 years ago that family run companies on the S&P 500 significantly outperform ones with 'professional management'. Both could just be as simple as the management incentives are aligned with the long term health of the companies.