Textron completes Pipistrel acquisition

Textron closed the acquisition of Pipistrel, a Slovenia-based pioneer in electrically powered aircraft, on Monday for a cash purchase price of approximately $235 million.

Pipistrel’s Velis Electro is the world’s first, and currently only, electric aircraft to receive full type certification from the EASA. The company will become part of Textron’s newest business segment, Textron eAviation, which will focus on sustainable aircraft for urban air mobility, general aviation, cargo and special mission roles.

Bringing Pipistrel into the Textron family of distinct aviation brands, which includes Cessna, Beechcraft, and Bell, will give the manufacturer access to greater resources and enable it to accelerate the development and certification of electric and hybrid-electric aircraft.

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Rob Scholl, who has been leading Textron’s eAviation initiatives, has been named President and CEO of the segment.

“Pipistrel has already achieved what many other companies only aspire to — certifying and delivering highly regarded electric aircraft to customers around the world,” said Textron Chairman and CEO Scott Donnelly. “We are excited to accelerate Pipistrel’s development and welcome its talented people into our organization, where we will pool expertise to make Textron a world leader in sustainable aircraft for a wide range of missions.”

Pipistrel’s headquarters, research and development, and manufacturing will remain in Slovenia and Italy, where Textron plans to make additional investments to expand manufacturing and product development capabilities.

Ivo Boscarol, Pipistrel founder and CEO, will remain a minority shareholder of Pipistrel with an approximately 10% interest for a two-year period, during which he will advise on future product plans and strategies.