Whatever the actual number and whatever the contract terms state, one thing seems sure: Pipistrel founder Ivo Boscarol will have no trouble paying his bills. Heck, it appears he could afford his own biz jet.
At the 2022 SUN ‘n FUN Aerospace Expo I was told Ivo sold his business to Textron Aviation for better than €200,000,000 (well over $200 million).
Such high finance is way beyond my usual reporting, but I’d bet those funds will be paid out on a schedule of performance. Deliver such-and-so technology to Textron by this date and you get $20 million. Deliver the next phase and get $30 million more…like that.
I have no idea, of course, but however he gets paid, Ivo will be rolling in it.
In all my years in light aviation, I have never heard of a higher value paid for any light aircraft company. In fact, I’ve never heard any number even close to that.
Ivo has long proven adept at maneuvering his company and it seems he hit the jackpot this time.
Some enthusiasts were grousing that Textron might never produce any Pipistrel models. Who knows what the future holds?
For now though, it was reported that Pipistrel will still operate its factories in Europe and Ivo will retain a 10% ownership share.
It was reportedly Textron’s interest in the Velis electric-propulsion version of Pipistrel that won its corporate heart.
When Textron Aviation officials announced the deal, they noted that once the deal closes — 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.
Congratulations to Ivo!
Hopefully the Pipistrel line won’t suffer the same fate as Columbia.
I totally agree this company has bought them to silence them they are too good and it’s a shame, they might use the electric
IMHO I was really sorry to hear about this sale. Textron is quite likely to absorb the Intellectual property and abandon all other airplane development. After absorbing the IP it’ll just get buried so they can do business as usual and not really do anything with the tech.
Pipestrel has been kicking butt and taking names for quite some time. Textron has been building the same airplane they’ve always built and the way they are always going to build it without making any changes, because “engineering”.
I hope I’m wrong. I really do. But Textron lacks any forward vision and has enough money to buy and bury any real competition.
… and you can bet that if they build the same exact airplane, the price will go up, too, Brian.