Dunlop Standard Aerospace Group Ltd. was formed in 1998 from the assets of BTR Aerospace Group when they were purchased by Doughty Hanson & Co. In 2004 the company was sold and split into two. The Carlyle Group, a private equity firm, acquired the Standard Aero division, now known as StandardAero. StandardAero is an headquartered in Tempe, Arizona. Meggitt plc acquired the Dunlop Aerospace Design and Manufacturing division.