US Textron to acquire Slovenian electric aircraft pioneer

U.S. industrial conglomerate Textron Inc. has signed a deal to acquire Pipistrel, the Slovenian ultralight aircraft maker and pioneer in electrically powered aviation

LJUBLJANA, Slovenia -- U.S. industrial conglomerate Textron Inc. has signed a deal to acquire Pipistrel, the Slovenian ultralight aircraft maker and pioneer in electrically powered aviation, both companies announced Thursday.

The Slovenian plane maker tweeted that the partnership will combine the expertise of both companies and “accelerate Pipistrel’s development and certification of sustainable aircraft.”

Textron is home to Cessna, Beechcraft, and Bell aviation brands. The value of the deal has not been disclosed. The transaction is expected to close during the second quarter of this year once all regulatory approvals are issued, Textron said.

Pipistrel CEO Ivo Boscarol will remain a minority owner, both companies said.