Greenbriar Equity Group and First Aviation Services (FAvS) has together acquired DART Aerospace, a rotorcraft components manufacturer.
DART has operated as a subsidiary of Eagle Copters and Era Group for more than 10 years. The acquisition by Greenbriar and FAvS will be completed following the successful implementation of customary closing conditions.
Noah Roy, managing partner of Greenbriar, said: “DART is well recognized in the industry for its engineering-led culture of innovation and success developing critical aftermarket and OEM components to support customers worldwide.” Roy added that he looks forward to supporting DART’s world-class management team and employees during this next chapter of the company’s growth.
FAvS have announced that the current management team at DART will continue to lead and to operate from its existing worldwide facility network. Other terms and conditions of the transaction have not been disclosed.
Commenting on the aqcuisition, Aaron Hollander, chairman and chief executive officer at FAvS, said: “DART’s extensive product offering and expertise certifying flight-ready components provide an exciting opportunity for partnership with First Aviation. We see many opportunities to collaborate with DART to drive additional growth through our investment.”
The company is excited about this new relationship with Greenbriar and FAvS, said Alain Madore, president and chief executive officer at DART. Madore added he is confident that the two companies capital and expertise will play a crucial role as it continues to grow.
DART Aerospace provides design, manufacturing and market-certified solutions for the helicopter and aerospace industry. With a line-up of over 900 STC’s and 4,500 products, it offers a comprehensive portfolio of mission equipment, replacement parts and tooling for civil and military operators, all major rotorcraft OEMs, completion centers and MRO facilities.