M&A Deal Summary

Forstmann Little Acquires Gulfstream Aerospace

On February 14, 1990, Forstmann Little acquired aerospace company Gulfstream Aerospace from Chrysler Group for 825M USD

Acquisition Highlights
  • This is Forstmann Little’s 1st transaction in the Aerospace sector.
  • This is Forstmann Little’s 2nd largest (disclosed) transaction.
  • This is Forstmann Little’s 3rd transaction in the United States.
  • This is Forstmann Little’s 1st transaction in Georgia.
Investment Fate
  • Gulfstream Aerospace went public in 1996.
  • Gulfstream Aerospace was sold to a strategic buyer in 1999 for 5.3B USD.

M&A Deal Summary
Date 1990-02-14
Target Gulfstream Aerospace
Sector Aerospace
Buyer(s) Forstmann Little
Sellers(s) Chrysler Group
Deal Type Divestiture
Deal Value 825M USD

Target

Gulfstream Aerospace

Savannah, Georgia, United States
Entrance to Gulfstream's corporate headquarters in Savannah, Georgia.
Entrance to Gulfstream's corporate headquarters in Savannah, Georgia.
Gulfstream Aerospace designs, develops, and manufactures business-jet aircraft. Gulfstream was formed in 1958 and is based in Savannah, Georgia.

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Buyer(S) 1

Buyer

Forstmann Little

New York, New York, United States
Category Private Equity Firm
Founded 1978
Size Small
Type Sector Agnostic
DESCRIPTION

Forstmann Little & Co. is a private investment firm focused on investments in aerospace, consumer products/services, communications, technology, education, and healthcare companies. The Firm will consider investments in both public and private companies. Forstmann Little was most active in the 80s and 90s. Despite it's size and history, the Firm does not maintain a website. Forstmann Little was formed in 1978 and is based in New York City.

DEAL STATS #
Overall 3 of 10
Sector (Aerospace) 1 of 1
Type (Divestiture) 1 of 2
State (Georgia) 1 of 1
Country (United States) 3 of 10
Year (1990) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1988-01-06 Kincaid Furniture

Hudson, North Carolina, United States

Kincaid Furniture Co., Inc. is a producer of solid wood dining and bedroom furniture.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1991-01-01 Bazooka Candy Brands

New York, New York, United States

Bazooka Candy Brands produces distinctive candy products including Bazooka bubble gum, Ring Pop, Push Pop, Baby Bottle Pop, and Juicy Drop Pop lollipops - as well as manage pre-paid digital and physical gift card solutions for consumer brands. Bazooka Candy Brands was founded in 1938 and is based in New York City.

Sell -

Seller(S) 1

SELLER

Chrysler Group

Auburn Hills, Michigan, United States
Category Company
Sector Automotive
DESCRIPTION

Chrysler Group LLC is an American automobile manufacturer headquartered in Auburn Hills, Michigan. It is a wholly owned subsidiary of the Italian multinational Fiat S.p.A.

DEAL STATS #
Overall 1 of 3
Sector (Aerospace) 1 of 1
Type (Divestiture) 1 of 2
State (Georgia) 1 of 1
Country (United States) 1 of 3
Year (1990) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1987-03-09 American Motors

Southfield, Michigan, United States

American Motors Corporation is an auto manufacturer most known for producing the Jeep line-up of vehicles.

Buy $1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1990-06-27 Dollar Thrifty Automotive Group

Tulsa, Oklahoma, United States

Dollar Thrifty Automotive Group, Inc. is a provider of car rental services. Dollar and Thrifty have approximately 280 corporate locations in the United States and Canada, with approximately 5,800 employees located mainly in North America. In addition to its corporate operations, the Company maintains global service capabilities through an expansive franchise network of approximately 1,300 franchise locations in 82 countries.

Buy -
Mergr

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