New Flyer acquired by New York equity firms
The acquisition, for which the value was not disclosed, is expected to close in the first quarter of 2004.
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.
More Management
NITA Proposes $5B Operating Budget, $9.7B Capital Program for 2027
The proposed budget includes funding for expanded transit service, safety initiatives, fleet upgrades, and infrastructure improvements across CTA, Metra, and Pace.
Read More →
Financing, Fleet Replacement Requires a More Strategic Approach
Executives from ABC Companies and MCI discuss how rising costs, changing market conditions, and post-pandemic challenges are prompting motorcoach operators to rethink financing strategies, fleet replacement cycles, and long-term planning.
Read More →
Bringing Austin’s First Light Rail System to Life
Austin Transit Partnership CEO Greg Canally discusses the city's nearly 10-mile light rail project, its collaborative approach to project delivery, the importance of community engagement, and the milestones ahead as construction approaches in 2027.
Read More →
ETA CEO John Maglio on Transit Technology, Innovation, and Building Agency Trust
ETA founder and CEO John Maglio explores the evolution of transit technology, the importance of reliable systems, and how stronger partnerships can help agencies improve operations and the passenger experience.
Read More →
Metra Draft Plan Outlines Costs, Service Improvements for Regional Rail
The Systemwide Network Plan identifies infrastructure needs and potential investments to expand all-day, bidirectional rail service across the Chicago region.
Read More →
New Orleans RTA Names Augustine III as New CEO
In this edition, we also spotlight recent personnel moves at HDR, PATH, STV, and more, highlighting the people taking on new roles across the transportation industry.
Read More →
How Transit Agencies Are Using Free Rides to Improve Voting Access
Transit agencies are using fare-free service, trip-planning tools, and targeted rides to improve voting access. See what other agencies can learn from these efforts.
Read More →
Caltrain’s Electrification Drives a New Era of Ridership Growth
The railroad’s shift to electric service has brought more frequent trains, stronger customer satisfaction, and increased ridership, earning it APTA’s Outstanding Public Transportation System award.
Read More →
Chicago, Charlotte Transit Agencies Expand Rider Support Programs
CTA launched crisis intervention teams as CATS prepares to deploy fare ambassadors, expanding customer assistance and security efforts across both systems.
Read More →
New York MTA Launches Historic $1.9B Signal, Track Modernization Project
Funded in part by congestion pricing revenue, the project will replace nearly century-old signals along the A and C lines in Brooklyn and Queens.
Read More →