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Greenbriar, First Aviation Services to buy Dart Aerospace

Greenbriar Equity Group LP and First Aviation Services Inc. will purchase Dart Aerospace Ltd. for an undisclosed sum.

Dart, which makes equipment and aftermarket components for the helicopter and fixed-wing markets, is being sold by Eagle Copters Ltd. and Era Group Inc. Its existing management will still lead the company and will continue to operate from its current global facility network. The transaction is expected to aid in the expansion of Dart's capabilities and markets.

Greenbriar is a private equity firm investing in aerospace, defense, industrial and business services, transportation, logistics and specialty manufacturing companies.

First Aviation is a Westport, Conn.-based provider of repair, overhaul, rotables management and related engineering services to the aviation market.

Houlihan Lokey was financial adviser to Era and Eagle Copters.