Textron to purchase Pipistrel Aircraft
Pipistrel will form the basis of a whole new segment under the Textron eAviation name, focused on urban air mobility, general aviation, cargo and special mission roles.
Pipistrel’s Velis Electro all-electric aircraft. Photo Credit: Pipistrel Aircraft
Textron Inc. (Providence, R.I., U.S.), home to the Cessna, Beechcraft and Bell aviation brands, announced it has entered into an agreement to purchase Pipistrel Aircraft (Ajdovščina, Slovenia and Italy), a global electrically-powered aircraft designer and manufacturer 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, enabling it to accelerate its development and certification of electric and hybrid-electric aircraft. Upon closing of the transaction, Textron plans to form a new business segment, Textron eAviation, based in Wichita, Kansas, focused on the development of sustainable aircraft, which will include Pipistrel.
“Pipistrel puts 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,” Textron chairman and CEO Scott Donnelly says. “This announcement supports Textron’s long-term strategy to offer a family of sustainable aircraft for urban air mobility [UAM], general aviation, cargo and special mission roles.”
Donnelly adds that Textron is committed to maintaining Pipistrel’s 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 two-year period.
“To drive Pipistrel’s ambitious goals and to continue its story of success, the joining of Textron and Pipistrel provides deep expertise and resources which would otherwise be inaccessible to Pipistrel alone,” Boscarol says. “With Textron, we are together geared to strive for future growth and look forward to announcing exciting new products and projects.”
The transaction is expected to close Q2 2022, subject to customary closing conditions, including regulatory approvals.
