Bus

KPS completes controlling investment in MCI parent company

Posted on September 20, 2010

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.

 

View comments or post a comment on this story. (0 Comments)

More News

Maine's Greater Portland Transit adds pass for high school students

The Transit Pass allows free and unlimited use of METRO bus routes during the academic school year, including weekends and break periods.

San Francisco introduces interactive, online performance dashboards

The site contains results from 13 key areas, including the percentage of on-time performance, mode share, crime stats, the agency’s carbon footprint, collision data and other information aligned with the SFMTA’s strategic plan.

ABC founder, industry icon Clancy Cornell passes

The founder of ABC Companies, Clancy grew a small transport service — Faribault Bus Service — into an industry force leaving an indelible list of accomplishments and memories in his path.

Chicago to buy 125 new buses per Mayor's 'modernization' plan

The new bus order is part of a contract CTA awarded to Nova Bus in January 2013. The new buses will replace the oldest vehicles in the fleet – the Nova 6400-series buses, which were purchased between 2000-2002.

Allied Specialty Vehicles names Furman to VP sales post for ASV Bus

Shawn Furman has been named southeast regional VP of sales for ASV Bus. Furman will represent ASV’s commercial, transit and school bus brands and report to John Walsh, vice president of sales and marketing for ASV Bus.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The resource for managers of class 1-7 truck Fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close