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

AVTA to become nation's first 100% electric bus fleet

BYD Motors will build and deliver a variety of all-electric bus models including a 40-foot low-floor transit bus, a 60-foot low-floor articulated bus, and a 45-foot commuter coach.

Bridj, KCATA, Ford partner for urban mobility pilot project

The transformative program is the first U.S. public-private partnership that brings together a major U.S. transit agency, an automaker and an urban technology company with the aim of enhancing Kansas City’s existing mass transit system by providing greater access and mobility to residents.

L.A. Metro opens new 'green' bus facility

Division 13 will serve as a bus maintenance, operations and service facility with a multi-level parking garage that accommodates 200 CNG buses, fueling equipment, transportation offices and support areas.

Starcraft Bus named Ford's top volume pool account for 10th year

The company has purchased and sold more Ford E-Series chassis than any other bus manufacturer in North America since 2006.

Cummins announces new 'SmartEfficiency' initiative

The product improvement plan focuses on improved fuel efficiency, lower total cost of ownership and improved uptime.

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 number 1 resource for vocational 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