M&A Deal Summary

Textron Acquires Cessna

On March 2, 1992, Textron acquired aerospace company Cessna from General Dynamics for 600M USD

Acquisition Highlights
  • This is Textron’s 2nd transaction in the Aerospace sector.
  • This is Textron’s 3rd largest (disclosed) transaction.
  • This is Textron’s 3rd transaction in the United States.
  • This is Textron’s 1st transaction in Kansas.

M&A Deal Summary

Date 1992-03-02
Target Cessna
Sector Aerospace
Buyer(s) Textron
Sellers(s) General Dynamics
Deal Type Divestiture
Deal Value 600M USD

Target

Cessna

Wichita, Kansas, United States
website
Cessna Caravan taking off from Fort Lauderdale airport in Florida.
Cessna Caravan taking off from Fort Lauderdale airport in Florida.
Cessna is an American general aviation aircraft manufacturer. Cessna is known for small, piston-powered aircraft as well as small business jets. Cessna was originally established in 1927 and is based in Wichita, Kansas.

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Buyer(S) 1

Buyer

Textron

Providence, Rhode Island, United States

website


Category Company
Founded 1923
Sector Diversified
Employees33,000
Revenue 12.4B USD (2021)
DESCRIPTION
Textron's corporate headquarters in downtown Providence, Rhode Island.
Textron's corporate headquarters in downtown Providence, Rhode Island.

Textron is a multi-industry company that leverages a global network of aircraft, defense, industrial and finance businesses to provide customers with products and services around the world. Textron conducts business through five operating segments: Cessna, Bell, Textron Systems and Industrial, and Finance. Cessna is a general aviation company with two principal lines of business: Aircraft sales and aftermarket services. Bell Helicopter is a supplier of military and commercial helicopters, tiltrotor aircraft, and related spare parts and services. Textron Systems’ product lines consist of unmanned aircraft systems, land and marine systems, weapons and sensors and a variety of defense and aviation mission support products and services. Textron Industrial designs and manufactures a variety of products under three principal product lines, including Fuel Systems and Functional Components, Golf and Turf Care, and Powered Tools, Testing and Measurement Equipment. Textron Finance is a commercial finance business that consists of Textron Financial Corporation. Textron was formed in 1923 and is based in Providence, Rhode Island. Textron was founded in 1923 and is based in Providence, Rhode Island.


DEAL STATS #
Overall 3 of 48
Sector (Aerospace) 2 of 7
Type (Divestiture) 1 of 8
State (Kansas) 1 of 2
Country (United States) 3 of 30
Year (1992) 1 of 1
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1986-01-29 Bostitch

East Greenwich, Connecticut, United States

Bostitch is a manufacturer of power tools.

Sell $193M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1996-01-01 Camelin Decolletage Industries

Besancon, France

Camelin produces components for car braking and interior safety systems, as well as for domestic appliances.

Buy -

Seller(S) 1

SELLER

General Dynamics

Falls Church, Virginia, United States

website


Category Company
Founded 1952
Sector Defense
Employees103,000
Revenue 38.5B USD (2021)
DESCRIPTION
General Dynamics' Ordnance and Tactical Systems unit located in St. Petersburg, Florida.
General Dynamics' Ordnance and Tactical Systems unit located in St. Petersburg, Florida.

General Dynamics is an aerospace and defense company. It manufacturers business jets as well as provides combat systems to the US military. General Dynamics was founded in 1952 and is based in Falls Church, Virginia.


DEAL STATS #
Overall 1 of 6
Sector (Aerospace) 1 of 3
Type (Divestiture) 1 of 5
State (Kansas) 1 of 1
Country (United States) 1 of 6
Year (1992) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1985-09-14 Cessna

Wichita, Kansas, United States

Cessna is an American general aviation aircraft manufacturer. Cessna is known for small, piston-powered aircraft as well as small business jets. Cessna was originally established in 1927 and is based in Wichita, Kansas.

Buy $700M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-05-17 Gulfstream Aerospace

Savannah, Georgia, United States

Gulfstream Aerospace designs, develops, and manufactures business-jet aircraft. Gulfstream was formed in 1958 and is based in Savannah, Georgia.

Buy $5.3B