New Flyer to buy PE-backed Motor Coach Industries for $603 mln
New Flyer Industries Inc (TSX: NFI) has agreed to buy Motor Coach Industries International Inc (MCI), a manufacturer of intercity coaches in North America. New Flyer agreed to pay US$455 million ($603 million) in cash to MCI's current owner U.S. private equity firm KPS Capital Partners. The deal is expected to close by the end of the year. Winnipeg-based New Flyer, a maker of heavy-duty transit buses, said the acquisition will provide it with growth and diversification opportunities, as well as potential synergies and new sources of collaboration. KPS bought Des Plaines, Illinois-based MCI in 2010. New Flyer was backed by Harvest Partners between 2004 and 2008.
11 November 2015•9 mins read
