TransDigm Group to acquire DART Aerospace

Ohio-based aerospace manufacturer TransDigm Group Incorporated has announced its intention to acquire aerospace equipment manufacturer DART Aerospace.

TransDigm says that the company plans to purchase the firm for an approximate sum of US$360 million, from previous owners, Greenbriar Equity Group and First Aviation Services. The acquisition is expected to close during the second quarter of 2022, subject to regulatory approvals and closing conditions.

DART, headquartered in Montreal, is a manufacturer of helicopter mission equipment which has a portfolio of around 5,000 products, as well as over 850 supplemental type certificates (STC). DART also provides a range of equipment maintenance and aftercare services.

The business is expected to generate around $100 million in pro forma revenues for the 2022 calendar year, of which 95 per cent will be generated through DART’s proprietary product range. It employs around 400 people across four primary facilities in Hawkesbury, Ontario; Portland, Oregon; Fort Collins, Colorado; and Chihuahua, Mexico.

DART recently acquired two Colorado aerospace businesses

It follows DART’s own acquisition of two Colorado-based sister firms – Paravion Technology and Century Helicopters – announced earlier this month, as part of DART’s plans to expand its product range and presence in the maintenance, repair and overhaul (MRO) sector.

TransDigm itself was founded in 1993 through the leveraged buyout and merger of four industrial aerospace firms by private equity firm Kelso & Company.

“We are excited about the acquisition of DART Aerospace,” said Kevin Stein, TransDigm’s President and CEO. “DART is an industry leader in helicopter mission equipment and its unique helicopter solutions fit well with our proprietary and aftermarket-focused value generation strategy. As with all TransDigm acquisitions, we expect the DART acquisition to create equity value in line with our long-term private equity-like return objectives.”