KPS completes controlling investment in MCI parent company
KPS has considerable experience in the bus sector through its former ownership of New Flyer Industries Ltd.
KPS Capital Partners LP (KPS) announced the completion of a controlling investment, through an affiliate, in MCII Holdings Inc., the parent company of Motor Coach Industries International Inc. (MCI). The transaction is the result of a multi-stakeholder recapitalization of MCII Holdings sponsored by KPS. Financial terms of the transaction were not disclosed.
"MCI is universally recognized as the premium coach brand and the leading participant in the coach bus industry with a reputation for quality and durability that is second to none," said Jay Bernstein, a partner of KPS. "As a result of the KPS-sponsored recapitalization, MCI is now conservatively capitalized and has the financial resources to fund its continued growth and investment in industry-leading innovation and technology."
KPS has considerable experience in the bus sector through its former ownership of New Flyer Industries Ltd. Under its ownership, New Flyer experienced significant growth in revenue and profitability, and became the industry leader in quality, delivery and customer service, according to KPS.
Miller Buckfire & Co. LLC served as financial advisor and Paul, Weiss, Rifkind, Wharton and Garrison LLP served as legal counsel to KPS with respect to the transaction.
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