TransDigm Group [TDG] on Monday said it has agreed to acquire DART Aerospace
for $360 million in cash in a deal that would add a provider of proprietary helicopter mission equipment solutions, mostly for civilian aircraft.
The transaction is subject to regulatory approvals and is expected to close during the second quarter of 2022. DART, which is based in Montreal, is expected to generate about $100 million in pro forma sales this year.
“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,” Kevin Stein, president and CEO of TransDigm, said in a statement. “The company has established positions on a diverse range of new and existing rotary-wing platforms, strong aftermarket content and an outstanding reputation with its customers.”
TransDigm said that about 95 percent of DART’s sales come from proprietary products and 80 percent from the aftermarket. DART has about 400 employees and operates in Canada, Oregon, Colorado and Mexico.
In addition to its civilian helicopter customers, DART also provides equipment, parts and tooling for military helicopters. The company earlier this month acquired Colorado-based Paravion Technology, which complemented its products for original equipment manufacturers and the aftermarket, and added work in the intelligence, surveillance and reconnaissance completion space.
DART’s products include emergency flotation systems, landing gear components, interior and exterior accessories, tools and ground support equipment, cargo expansion, windows and doors, engine and drive systems and external load equipment.
DART is a portfolio company of Greenbriar Equity Group, L.P. and First Aviation Services Inc.