Barings supports Greenbriar and First Aviation’s buyout of DART Aerospace

Barings has provided a senior secured credit facility to back Greenbriar Equity Group and First Aviation Services Inc‘s acquisition of DART Aerospace, a provider of mission equipment and aftermarket components for the helicopter and fixed-wing industries. No financial terms were disclosed.


CHARLOTTE, N.C. (April 10, 2019) – Barings, one of the world’s leading financial services firms, announced today that it has served as the lead agent on a senior secured credit facility to support Greenbriar Equity Group, L.P. and First Aviation Services Inc. in the acquisition of DART Aerospace (DART), a leading provider of mission equipment and aftermarket components for the helicopter and fixed-wing industries. Financial terms were not disclosed.

DART provides industry-leading design, manufacturing and market-certified solutions for the helicopter and aerospace industry. With over 900 STC’s and 4,500 products, DART offers a comprehensive portfolio of mission equipment and related services, replacement parts and tooling for civil and military operators, all major rotorcraft OEMs, completion centers and MR&O facilities. DART’s key products include: flotation systems, landing gears, interior and exterior accessories, cargo expansion, external loads, cable cutters and filters. All this, in addition to extensive engineering capabilities and manufacturing centers delivering fast time-to-market solutions with superior customer support in over 120 countries worldwide.

“DART is an established leader in the helicopter and aerospace markets with deep capabilities and a long track record of new product development and innovation supporting a broad spectrum of mission critical aftermarket solutions for its customers,” said Noah Roy, Managing Partner of Greenbriar Equity Group. “We are looking forward to expanding and strengthening DART’s capabilities and appreciate the financing support, flexibility and partnership we received from Barings through the acquisition process.”

“Greenbriar has extensive experience in the aerospace industry and DART will greatly benefit from their expertise as they continue to grow their business on a global scale” said Brian C. Baldwin, Managing Director of Barings Global Private Finance. “Barings is proud that Greenbriar recognized our financing capabilities to help meet the capital needs of DART, and we are excited to see their next stage of growth”.

Barings Global Private Finance, part of Barings LLC, is a 70+ investment team located in seven offices on four continents. GPF has a 40-year track record of successfully financing middle-market buyouts, acquisitions, and recapitalizations. With product capabilities that range from traditional senior debt to bespoke junior capital securities, and hold sizes of $200 million+, Barings is focused on providing capital solutions that help our private equity clients complete their deal on time and as expected. Our long-term commitment to the asset class, local origination in each region, consistent team, and broad range of investment capabilities, are designed to provide investors an absolute spread premium to broadly syndicated loans as well as an attractive risk-adjusted return potential.

About Barings
Barings is a $303+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific. For more information, visit
*As of December 31, 2018

About Greenbriar Equity Group, L.P.
Founded in 1999, Greenbriar Equity Group is a private equity firm with over $3.5 billion of committed capital focused on investing in market-leading manufacturing and services businesses in partnership with proven management teams. Greenbriar looks to identify companies capitalizing on strong long-term growth prospects that can benefit from Greenbriar’s industry knowledge, operating capabilities, network of senior executive relationships, strategic insight and access to capital. Sectors of particular focus include aerospace and defense, industrial and business services, transportation and logistics, and specialty manufacturing. Additional information may be found at

About First Aviation Services, Inc.
First Aviation Services Inc. (FAvS), headquartered in Westport, Connecticut, is a leading provider of repair and overhaul, rotables management and related engineering services to the aviation industry worldwide. FAvS’s principal operating subsidiaries are Aerospace Turbine Rotables, Inc., Evōlution Aerospace, Inc.® and Piedmont Propulsion Systems, LLC. More information about FAvS and its subsidiaries may be found on the company’s website