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

Va. woman struck by bus awarded $4.5M

The driver had reportedly been in four other accidents in the previous 18 months but was allowed to stay behind the wheel.

Fla.'s HART partners with Megabus.com to pilot service option

The agency is already providing enhanced routes and options through a unique 5-year partnership agreement with Megabus.com which began last year, to offer express travel to and from Miami and Orlando for as little as $1.

BusCon 2015 takes Indy by storm with new vehicles, tech and education

The 20th installment of the show featured more than 50 new exhibitors, 70-plus vehicles and plenty of information to inspire attendees.

House moves to delay PTC deadline

A bipartisan measure has been introduced in the lower chamber that would push back the deadline for most railroads to install automated train technology until December 2018.

Volvo celebrates new Nova, Prevost customer delivery center

The new Plattsburgh, N.Y., building will be equipped of a welcoming customer area, 10 bus delivery spaces and offices to enable our customers to continue their professional activities during their stay.

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



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