January 21, 2016

Textron Aviation acquires Able Engineering & Component Services, strengthens aftermarket customer support across Textron

WICHITA, Kan., (Jan. 21, 2016) – Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, announced today it has completed the acquisition of Able Engineering & Component Services Inc. and Able Aerospace Inc., an industry-leading repair and overhaul company. Based in Mesa, Arizona, Able provides component repairs, component exchanges and replacement parts, among other support and service offerings for commercial rotorcraft and fixed-wing aircraft customers around the world.

“This is a natural fit for Textron, Textron Aviation and our customers. This acquisition aligns with our strategy to enhance MRO capabilities and broaden our already world-class service offerings,” said Scott Ernest, Textron Aviation’s president and CEO. “We believe Able adds tremendous value for aircraft parts and maintenance that will reduce lead time for aircraft parts and increase aircraft availability. We are proud to have them join the Textron family.”

Founded in 1982, Able is an international aerospace enterprise that has developed over 2,800 unique proprietary FAA-approved repairs on aircraft components, and is a preferred MRO provider to helicopter fleets and airlines worldwide.

“We are very excited about joining the Textron enterprise and the benefits it will bring to our customers,” said Lee Benson, CEO of Able Engineering & Component Services Inc. “We’ve been working very closely together over the past year to ensure the acquisition by Textron is beneficial to all our stakeholders, and are proud to see our efforts come to fruition.”

Textron Aviation, through its Beechcraft, Cessna and Hawker brands, is renowned for its unrivaled global service network dedicated to complete life-cycle support. Textron Aviation’s support organization includes 21 company-owned service centers located around the world with expert service engineers offering maintenance, inspections, parts, repairs, avionic upgrades, equipment installations, refurbishments and other specialized services. Textron Aviation also offers a mobile support program featuring more than 60 mobile service units, three dedicated support aircraft, and on-site service technicians and support.

Image: Able Engineering & Component Service Inc. facility in Mesa, Arizona

Web page: Find Textron Aviation service information on our website at http://txtav.com/en/service

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About Textron Aviation Inc. 

Textron Aviation Inc. is the leading general aviation authority and home to the Beechcraft, Cessna and Hawker brands, which account for more than half of all general aviation aircraft flying. The Textron Aviation companies include Cessna Aircraft Company and Beechcraft Corporation, bringing together decades of unmatched experience in designing, building and supporting airplanes. It provides the most versatile and comprehensive general aviation product portfolio in the world through five principal lines of business: business jets, general aviation and special mission turboprop aircraft, high performance piston aircraft, military trainer and defense aircraft, and a complete global customer service organization. Its broad range of products include such best-selling aircraft as Citation and Hawker business jets, King Air and Caravan turboprops and T-6 military trainer aircraft, all of which are backed by the industry’s largest global service network. For more information, visit txtav.com.

About Textron Inc.
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, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Textron Systems, and TRU Simulation + Training. For more information visit: www.textron.com.

Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including but not limited to difficulty or unanticipated expenses in connection with integrating acquired businesses; the risk that anticipated synergies and opportunities as a result of acquisitions will not be realized or the risk that acquisitions do not perform as planned, including, for example, the risk that acquired businesses will not achieve revenue and profit projections.