Mx Unchanged in Textron’s Beechcraft Buy
Beechcraft announced that Textron has agreed to acquire Beech Holdings, the parent of Beechcraft Corp., for approximately $1.4 billion in cash. Under the terms of the transaction, Textron will acquire the Hawker 4000 and Premier IA type certificates.
Maintenance services for the Beech-branded aircraft will continue through Beechcraft’s factory-owned service center network, Hawker Beechcraft Services and authorized service centers around the world with Hawker 4000 and Premier approvals. The nine factory-owned service centers were included in the acquisition, and from the customers’ perspective the transition should be transparent, a Beechcraft spokeswoman told AIN.
Beechcraft CEO Bill Boisture said, “This transaction represents an important step forward in the evolution of Beechcraft’s business. The team at Beechcraft has worked tirelessly to strengthen our core business and to maintain our position as a leader in a highly competitive environment. Textron’s experience in the industry and its willingness to invest in and maintain the iconic Beechcraft brand make it an ideal parent company, one that will help us continue to satisfy our customers and meet our business objectives at a faster pace.”