New Flyer Industries buys HIG Capital's ARBOC for $95 mln
New Flyer Industries Inc (TSX: NFI) has bought 100 percent of the interests in ARBOC Specialty Vehicles LLC, a Middlebury, Indiana-based producer of specialty vehicles targeting the low-floor, small and mid-size bus markets. New Flyer's U.S. affiliate paid US$95 million for ARBOC, which was sold by U.S. private equity firm HIG Capital. New Flyer, a Winnipeg-based transit bus and motor coach manufacturer and parts distributor, said the deal provides it with complementary product lines and an opportunity for growth and diversification. Founded in 1930, New Flyer was formerly backed by Harvest Partners and Lightyear Capital.
1 December 2017•5 mins read
