Textron has completed the acquisition of Beech Holdings, LLC, parent company of Beechcraft Corp., naming a new business segment called Textron Aviation.
Textron Aviation will be lead by newly appointed CEO Scott Ernest, who has served as Cessna's president and CEO since 2011. The completed acquisition brings three of the largest U.S.-based General Aviation manufacturers, Cessna, Beechcraft and Hawker, under one umbrella.
Scott Donnelly, CEO of Textron, called the acquisition a "historic milestone for the aviation industry."
"Uniting these brands creates a robust industry competitor, operating as one team with a common goal to serve customers everywhere our aircraft fly. Through Textron Aviation, we now offer a broader selection of aircraft for our customers and a greatly expanded service footprint," said Donnelly.