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Add-on Acquisition • Aerospace

General Dynamics Acquires Gulfstream Aerospace

On May 17, 1999, General Dynamics acquired aerospace company Gulfstream Aerospace for 5.3B USD

Acquisition Context
  • This is General Dynamics’ 2nd transaction in the Aerospace sector.
  • This is General Dynamics’ 2nd largest (disclosed) transaction.
  • This is General Dynamics’ 2nd transaction in the United States.
  • This is General Dynamics’ 1st transaction in Georgia.

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M&A Deal Summary
Date May 17, 1999
Target Gulfstream Aerospace
Sector Aerospace
Buyer(s) General Dynamics
Deal Type Add-on Acquisition
Deal Value 5.3B USD

Target Company

Gulfstream Aerospace

Savannah, Georgia, United States
Entrance to Gulfstream's headquarters in Savannah, Georgia.
Entrance to Gulfstream's headquarters in Savannah, Georgia.
Gulfstream Aerospace is a manufacturer of business‑jet aircraft, offering a wide range of long‑ and ultra‑long‑range jets for corporate, government, and private use. The company handles everything from design and manufacturing to global support and maintenance services, acting as a one‑stop partner for high‑performance aviation needs. Its product line includes advanced models such as the G500, G600, G700, and G800, supported by an international network of service centers and a global customer‑support portal. Gulfstream Aerospace was formed in 1958 and is based in Savannah, Georgia.
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Buyer Overview 1

Buyer

General Dynamics

Reston, Virginia, United States
Category Company
Founded 1899
Sector Defense
Employees117,000
Revenue 47.7B USD (2024)
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 Reston, Virginia.

Deal Context for Buyer #
Overall 2 of 30
Sector: Aerospace 2 of 3
Type: Add-on Acquisition 2 of 27
State: Georgia 1 of 1
Country: United States 2 of 26
Year: 1999 1 of 2
Size (of disclosed) 2 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1992-03-02 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.

Sell $600M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-09-01 General Dynamics C4 Systems

Scottsdale, Arizona, United States

General Dynamics C4 Systems is an integrator of secure communication and information systems and technology.

Buy $1.1B

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