Textron to acquire Pipistrel
March 21, 2022 By Wings Staff
Textron Inc. entered into an agreement to purchase Pipistrel, one of the world’s pioneering airplane makers focused on electrically powered aircraft, based in Slovenia and Italy.
Textron, which owns the Cessna, Beechcraft, and Bell aviation brands, notes this acquisition will provide Pipistrel with access to greater resources, technical and regulatory expertise and a global aircraft sales and support network, enabling it to accelerate its development and certification of electric and hybrid electric aircraft.
Upon closing of the transaction, expected in the second quarter of 2022, Textron plans to form a new business segment, Textron eAviation, focused on the development of sustainable aircraft, which will include Pipistrel.
“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. “Today’s announcement supports Textron’s long-term strategy to offer a family of sustainable aircraft for urban air mobility, general aviation, cargo and special mission roles.
“Textron is committed to maintaining Pipistrel’s brand, headquarters, research and development, and manufacturing in Slovenia and Italy,” continued Donnelly, “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 two-year period.