Management & Operations

NABI sells Optare

Posted on August 1, 2005

North American Bus Industries Inc. (NABI) completed an agreement last week to sell its UK subsidiary, Optare Holdings Ltd. — a bus and coach manufacturer — to a management team led by two Optare executives.

Robert Coombes and Roger Fossey, managing director and finance director of Optare, respectively, bought the company for a total of £11.8 million British pounds, or approximately US$20.7 million.

NABI has owned Optare since 2000, and sales of Optare’s only Americanized product, the 30-foot 30-LFN, amounted to about 170 units to various U.S. operators, including Miami-Dade Transit, American Eagle Airlines and Thrifty Rental Car.

Under terms of the sale, NABI has entered an agreement with Optare to provide spare parts and technical services for the 30-LFN buses NABI supplied to its U.S. customers.

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

More News

NorthEast Charter joins IMG network

The company joins IMG’s Cyr Bus Lines in serving the state of Maine and surrounding areas.

TriMet's GM McFarlane to retire

He led the expansion of TriMet’s light rail system, which has become a national model for integrating land use and transportation planning, policy and development.

Nashville mayor unveils $5.2 billion transportation plan

It includes 26 miles of Nashville’s first-ever light rail system, four rapid bus routes, a dramatic increase in the service and frequency of the bus system, and a strategy of service and infrastructure improvements.

RATP Dev North America adopts one brand

Rebranding of McDonald Transit and RDMT simplifies client interactions by immediately connecting clients to the parent company in North America.

MV Transportation names IT exec to CEO post

Kevin Jones joins MV from DXC Technology, a publicly traded IT services company, where he served as sr. VP and GM of the Americas region.

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 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