AEROSPACE

TransDigm Announces Acquisition of DART Aerospace

TransDigm Group | March 15, 2022

Aerospace
TransDigm Group Incorporated, announced today that it has entered into a definitive agreement to acquire DART Aerospace ("DART" or "the Company"), a portfolio company of Greenbriar Equity Group, L.P. and First Aviation Services Inc., for approximately $360 million in cash. 

DART is headquartered in Montreal, Quebec. The Company is a leading provider of highly engineered, unique helicopter mission equipment solutions that predominantly service civilian aircraft. The Company is expected to generate approximately $100 million in pro forma revenues for the calendar year ending December 31, 2022. Approximately 95% of DART's revenues are derived from proprietary products and about 80% of DART's revenues comes from the aftermarket. The products have a strong presence across major commercial rotary-wing platforms as well as select applications for defense and safety services. The Company employs approximately 400 people and operates from four primary facilities in Hawkesbury, Ontario; Portland, Oregon; Fort Collins, Colorado and Chihuahua, Mexico.

"We are excited about the acquisition of DART Aerospace. 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. 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. 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."

Kevin Stein, TransDigm's President and Chief Executive Officer

The acquisition, which is expected to close during the second calendar quarter of 2022, is subject to regulatory approvals and customary closing conditions. The acquisition will be financed through existing cash on hand.

About TransDigm Group
TransDigm Group, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today. Major product offerings, substantially all of which are ultimately provided to end-users in the aerospace industry, include mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, batteries and chargers, engineered latching and locking devices, engineered rods, engineered connectors and elastomer sealing solutions, databus and power controls, cockpit security components and systems, specialized and advanced cockpit displays, engineered audio, radio and antenna systems, specialized lavatory components, seat belts and safety restraints, engineered and customized interior surfaces and related components, advanced sensor products, switches and relay panels, thermal protection and insulation, lighting and control technology, parachutes, high performance hoists, winches and lifting devices, and cargo loading, handling and delivery systems.

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American Airlines has announced its Q4 and 2022 financial results. Offering an insight into the carriers record breaking yearly revenue, alongside where operational costs continued to impact the business as they experienced higher than average costs to operate, shortages and more.

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American Airlines has announced its Q4 and 2022 financial results. Offering an insight into the carriers record breaking yearly revenue, alongside where operational costs continued to impact the business as they experienced higher than average costs to operate, shortages and more.

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Raytheon Technologies | December 21, 2022

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Pratt & Whitney | November 30, 2022

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AIR TRANSPORT

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JetBlue | December 07, 2022

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Since 2020, JetBlue has continued to secure immediate as well as future supplies of SAF on its path to convert 10% of the airline’s total fuel to be SAF by 2030. Since 2020, JetBlue has been flying regularly using SAF from its California airports in Los Angeles and San Francisco, partnering with both currently available SAF suppliers in the U.S., Neste and World Energy. To further encourage a vibrant and competitive market, in 2022 alone, JetBlue has signed agreements with three additional SAF producers for future supply: Aemetis, AIR COMPANY, and Fidelis New Energy. While its 2021 agreement with SG Preston has been terminated, JetBlue will continue to look at future SAF partnerships to grow its SAF portfolio, with a particular interest in encouraging SAF in its Northeast focus cities. 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