Nearly two weeks after Dart Aerospace announced its purchase of Paravion Technology and Century Helicopters, the Montreal-based mission equipment provider is being acquired by TransDigm Group for $360 million in cash. TransDigm is a Cleveland-based designer, producer, and supplier of engineered aircraft components used on commercial and military aircraft. Pending regulatory and other approvals, the acquisition is expected to close in the second quarter.

With the acquisition, TransDigm acquires Dart’s four facilities in Hawkesbury, Ontario, Canada; Portland, Oregon; Chihuahua, Mexico; and Century MRO in Fort Collins, Colorado. Dart employs 400 people. The company, which was owned by Greenbriar Equity Group and First Aviation Services, is expected by TransDigm to generate $100 million in pro forma revenue this year. About 95 percent of Dart's revenue comes from the aftermarket sales of its products, which are primarily for rotorcraft.

“[Dart] has established positions on a diverse range of new and existing rotary-wing platforms, strong aftermarket content, and an outstanding reputation with its customers,” said TransDigm president and CEO Kevin Stein. “As with all TransDigm acquisitions, we expect the Dart acquisition to create equity value in line with our long-term…return objectives.”