Shearman & Sterling is advising Textron Inc. in its acquisition of Beech Holdings, LLC, the parent of Beechcraft Corporation, for approximately $1.4 billion in cash. The transaction is expected to close during the first half of next year, subject to customary closing conditions, including regulatory approvals.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee and Textron Systems.
Beechcraft Corporation, with estimated 2013 revenues of $1.8 billion, is a leading manufacturer of business, special mission, light attack and trainer aircraft. With over 35,500 aircraft in service, Beechcraft supports its installed base with an extensive global network of company-owned and authorized service centers.
The Shearman & Sterling team included partners Peter Lyons (New York-Mergers & Acquisitions) and Robert Katz (New York-Mergers & Acquisitions), counsel Sean Skiffington (Toronto-Mergers & Acquisitions), and associates Benjamin Brod (New York-Mergers & Acquisitions) and Zhak Cohen (New York-Mergers & Acquisitions), as well as partners Douglas Bartner (New York-Financial Restructuring & Insolvency), Michael Shulman (Washington, DC-Tax), John Cannon (New York-Executive Compensation & Employee Benefits), Dale Collins (New York-Antitrust), Stephen Mavroghenis (Brussels-Antitrust), Samuel Waxman (New York-Intellectual Property Transactions), and Alan Goudiss (New York-Litigation); counsel Jill Frizzley (Financial Restructuring & Insolvency), Lisl Dunlop (New York-Antitrust), and Jason Pratt (New York-Environmental); and associates Derek Kershaw (New York-Tax), Gary Tashjian (New York-Executive Compensation & Employee Benefits), Kelly Karapetyan (New York-Antitrust), Karina Lubell (New York-Antitrust) and Sara Ashall (New York-Antitrust).
