Management & Operations

NABI acquires Optima Bus Corp.

Posted on August 21, 2006

ANNISTON, Ala. — North American Bus Industries Inc. (NABI) has acquired Optima Bus Corp. Terms of the transaction were not disclosed. NABI CEO Robert Shaughnessy said the newly combined organization will be a full-service transit bus manufacturer, providing the market with a complete range of buses from 30 to 60 feet. "Optima Bus Corporation has experienced success and growth over the past several years. This acquisition will allow Optima to continue on that path," Shaughnessy said. "The acquisition represents two market leaders coming together to utilize the core competencies of each company in order to produce even more durable, higher quality transit vehicles." "Optima’s management team continues to do an excellent job building the company’s reputation as a leading developer and manufacturer of quality buses and trolleys," said Tom Nathanson of American Capital Strategies Ltd., Optima’s previous majority owner. "Optima is well positioned for continued growth and we wish them well." NABI was acquired by Cerberus Capital Management LLP in February 2006.

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