- $235 Million Textron’s Acquisition
- Electric Aircraft Innovator Pipistrel joins Textron Aviation
Textron Inc. has announced the acquisition of electric aircraft pioneer company Pipistrel, headquartered in Slovenia. The purchase price is $235 million.
Pipistrel is a global leader in the development and production of light aircraft, with a special focus on electric propulsion. Slovenian manufacturer, established in 1989, has more than 30 years of experience in designing, building, and flying some of the world’s most innovative aircraft.
Pipistrel has more than 600 employees across its facilities in Slovenia, Croatia, and Italy. The company’s products include the Alpha Electric training aircraft, which is certified in more than 40 countries, and the Panthera Hybrid, which won the prestigious Lindbergh Electric Aircraft Prize in 2011.
Textron Inc. is a global aerospace and defense company with more than 37,000 employees serving customers in more than 170+ countries. Textron’s operating companies include Bell Textron Inc., Textron Aviation Inc., Textron Systems Corporation, and Textron Financial Corporation.
Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Beechcraft, Hawker, Jacobsen, E-Z-GO, Greenlee, Textron Off Road, Arctic Cat, Textron Systems, and TRU Simulation + Training.
“This acquisition furthers Textron’s investments in developing groundbreaking aviation technologies that are not only environmentally friendly but also provide our customers with increased operational efficiencies,” said Textron Chairman and CEO Scott Donnelly. “Pipistrel has been a true pioneer in the electric aircraft space, and we look forward to tapping into their expertise as we continue to invest in this important area of aviation.”
Pipistrel will continue to operate as a standalone company under its current leadership, and its headquarters will remain in Slovenia.
“Textron is committed to maintaining Pipistrel’s brand, headquarters, research and development, and manufacturing in Slovenia and Italy while making additional investments in Pipistrel for the development and production of future products,” continued Donnelly.
“This is an exciting day for Pipistrel and our employees,” said Ivo Boscarol, founder and CEO of Pipistrel. “We are proud to join Textron Aviation and believe this transaction will provide significant opportunities to accelerate the development and commercialization of our electric aircraft solutions.”
This acquisition will allow Textron to accelerate its electrification strategy across its businesses, including Cessna and Bell. “Pipistrel puts Textron in a uniquely 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 Textron Chairman and CEO Scott Donnelly.