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Berkshire Gets Dealmaker CEO in Precision Castparts Purchase

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Why Warren Buffett Bought Precision Castparts for $37.2B

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Mark Donegan, chairman and chief executive officer of Precision Castparts Corp., made more than a few deals of his own before becoming a target of billionaire Warren Buffett’s Berkshire Hathaway Inc.

Precision Castparts, a maker of equipment for the aerospace and energy industries, has completed at least 30 acquisitions since Donegan took over as CEO in 2002. Buying companies “is always going to be our primary objective,” he told analysts in January, deflecting inquiries about boosting dividend payments. “We’ve numerous opportunities sitting in front of us of which all are right for the business.”