Management & Operations

KPS makes controlling investment in New Flyer

Posted on March 22, 2002

The KPS Special Situations Fund LP made a controlling investment, through an affiliate, in New Flyer Industries Ltd. pursuant to a multi-stakeholder recapitalization and restructuring of the company. The transaction is the culmination of nearly one year of restructuring efforts at New Flyer and involved the participation of virtually all of the company's primary stakeholders. KPS invested about $28 million of equity in the transaction and the province of Manitoba invested about $13 million in the form of a subordinated loan. All of the net proceeds invested by KPS and the province will be retained in the company to recapitalize its balance sheet and to fund normal operations. New Flyer's founding shareholder, Jan den Oudsten, will retain a minority stake in New Flyer. He will stay on as the company's non-executive chairman and will be involved in certain special projects. A new chief executive officer will be named shortly.

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

More News

HART leasing Teslas to expand rideshare program

The HART HyperLINK program partners with Transdev to provide direct connections from door to bus stop through an on-demand ride-hailing service similar to Uber,

WTC Oculus safety improvements possible following death of woman

Jenny Santos plunged from the C1 level escalator early Saturday morning as she was grabbing her twin sister's hat. She was brought to Bellevue Hospital and pronounced dead.

New mobility website to track Washington, D.C. traffic congestion

The dynamic web tool shows the District’s state of mobility for surface transportation modes and outlines DDOT’s recommendations for managing and operating built infrastructure to meet growing demand.

McDonald Transit/RATP Dev to operate Fla. transit service

Will provide management of the operations and vehicle maintenance for Lake County’s LakeXpress, fixed-route service and the paratransit service, Lake County Connection.

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