Management & Operations

New Flyer acquired by New York equity firms

Posted on December 18, 2003

New Flyer Industries Ltd., the largest manufacturer of heavy-duty transit buses in North America, is being acquired by two private equity firms based in New York, reported the Associated Press. Harvest Partners Inc. partnered with Lightyear Capital LLC to acquire New Flyer from KPS Special Situations Funds, which in 2002 had bought a controlling interest in the company for $28 million in equity. The acquisition, for which the value was not disclosed, is expected to close in the first quarter of 2004. John Marinucci, New Flyer's president and chief executive, will continue to lead the company and maintain a significant ownership, the buyers said.

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

More News

Amtrak names new president/CEO

To ensure a smooth transition, Richard Anderson will serve in a co-CEO capacity with current CEO Wick Moorman through Dec. 31, 2017, at which time Moorman will become an advisor to the company.

Lhota named chairman of N.Y. MTA

Lhota previously served as the chairman of the board and CEO of the MTA.

Stantec to aquire RNL Design

Large-scale projects in the RNL’s portfolio include the Research Support Facility at the National Renewable Energy Lab in Golden, Colo. — the first Net Zero Energy project of its kind.

Minn. Metro Transit shutting down part of light rail system for 11 days

Maintenance project includes replacing sections of tracks, upgrading switches, and repairing concrete and overhead wires.

New Flyer announces new regional sales manager

David Hammingh will be responsible for the company's Midwest U.S. transit bus sales.

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