New Flyer Industries Inc. announced that, through a wholly owned subsidiary, it has acquired the assets and business of TCB Industries LLC (TCB) of Elkhart, Ind. The acquisition price was approximately $1 million, and the purchased business will be operated by New Flyer's subsidiary, TCB Enterprises LLC.
TCB designs and manufacturers interior LED lighting systems, grab rails and seamless Stanchions, drivers' barriers and other miscellaneous bus parts. TCB was established in 2004 and privately owned by Tony Cunnane and Bob Loper, who will both remain onboard.
As part of the purchase of TCB, New Flyer has also entered into a memorandum of understanding with Franz Kiel GmbH of Germany, a manufacturer of transit vehicle seats in Europe, for a supply arrangement with the distribution rights to Kiel passenger seats for city transit buses through Kiel NA LLC.
Management expects this new relationship with Kiel will allow New Flyer to deliver increased benefits, such as reduced weight and enhanced design to its customers through world-class and proven seating products.