On March 14, 2022, TransDigm Group Incorporated announced its definitive agreement to acquire DART Aerospace, a portfolio company of Greenbriar Equity Group, L.P. and First Aviation Services Inc., for approximately $360 million (CAD 480,920,400) in cash. DART, headquartered in Montreal, Quebec, is renowned as a leading provider of highly engineered, unique helicopter mission equipment solutions, mainly servicing civilian aircraft. The company was projected to generate about $100 million in pro forma revenues by the end of 2022. Notably, 95% of DART's revenue stems from proprietary products, with 80% coming from the aftermarket sector.

DART's product line boasts a strong presence across major commercial rotary-wing platforms, including select applications for defense and safety services. The company, employing roughly 400 individuals, operates from four primary facilities located in Hawkesbury, Ontario; Portland, Oregon; Fort Collins, Colorado; and Chihuahua, Mexico.

Kevin Stein, President and CEO of TransDigm, expressed enthusiasm over the acquisition, highlighting DART's leadership in helicopter mission equipment. He emphasized that DART's unique solutions align well with TransDigm's strategy of focusing on proprietary and aftermarket products. Stein also noted the company's strong positions on diverse rotary-wing platforms, significant aftermarket content, and excellent customer reputation. He anticipates that the acquisition will align with TransDigm's long-term, private equity-like return objectives.

The deal, expected to close in the second quarter of 2022, is contingent upon regulatory approvals and customary closing conditions. It will be financed through TransDigm's existing cash reserves.