Textron acquires Pipistrel Aircraft
by Pipistrel Velis Electro all-electric aircraft. Photo credit: Pipistrel Aircraft
Textron Inc. (Providence, RI, USA), home to the Cessna, Beechcraft and Bell aviation brands, announced that it has reached an agreement to purchase Pipistrel Aircraft (Ajdovščina, Slovenia and Italy), a designer and global manufacturer of electric aircraft that uses composite materials.
With Textron, Pipistrel will have access to greater resources, technical and regulatory expertise and a global aircraft sales and support network, allowing it to accelerate its development and certification of electric and hybrid-electric aircraft. Upon closing of the transaction, Textron plans to create a new business segment, Textron eAviation, based in Wichita, Kansas, focused on the development of sustainable aircraft, which will include Pipistrel.
“Pipistrel places Textron in a strong position to develop technologies for the sustainable aviation market and develop a variety of new aircraft to meet a wide range of customer missions,” said Scott Donnelly, President and CEO of Textron. . “This announcement supports Textron’s long-term strategy to deliver a family of sustainable aircraft for urban air mobility. [UAM]general aviation, cargo and special missions.
Donnelly adds that Textron is committed to maintaining the Pipistrel brand, headquarters, research and development (R&D) and manufacturing in Slovenia and Italy, while making additional investments in Pipistrel for the development and production of future products.
Pipistrel founder and CEO, Ivo Boscarol, will remain a minority shareholder as well as Chairman Emeritus, consulting on future product plans and strategies for a period of two years.
“To achieve Pipistrel’s ambitious goals and continue its success story, the combination of Textron and Pipistrel provides deep expertise and resources that would otherwise be inaccessible to Pipistrel alone,” says Boscarol. “With Textron, we are together poised for future growth and look forward to announcing exciting new products and projects.”
The transaction is expected to close in the second quarter of 2022, subject to customary closing conditions, including regulatory approvals.