North American Bus Industries (NABI) and its parent company, NABI Rt. in Budapest, Hungary, have been acquired by Cerberus Capital Management, a New York-based private equity fund manager.
The acquisition will include the business assets of NABI Rt. as well as all stock of its Alabama-based subsidiary, NABI Inc. The closing of the transactions is expected to be on or about Jan. 31.
The acquisition provides NABI with access to significant resources necessary to enable the bus manufacturer to continue its warranty and service support and to develop new products.
“The industry is poised for significant growth, and NABI is well positioned with current and planned products to enhance its market position," said Bill Coryell, NABI's vice president of sales. "Our new owners are committed to advancing such growth."