Textron has entered into an agreement to purchase Slovenia-based aircraft developer and manufacturer Pipistrel. Pipistrel, which has long been on the forefront of the development of electric and hybrid electric aircraft, became the first company to earn a type certificate for a fully electric aircraft with the Velis Electro in June 2020. Following its acquisition of the company, Textron plans to form Textron eAviation, a new business segment that will focus on the development of sustainable aircraft.
“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.”
Donnelly also noted that Textron plans to maintain Pipistrel’s brand, headquarters, research and development, and manufacturing operations in Slovenia and Italy along with making additional investments for the development and production of future products. Pipistrel founder and CEO Ivo Boscarol will remain a minority shareholder and chairman emeritus. According to Textron, Boscarol will be consulting on future product plans and strategies for a two-year period. Subject to regulatory approval, the deal is expected to close during the second quarter of 2022.