Mergers and acquisitions
Since 2013, the NFI Group has completed several mergers and acquisitions that have expanded the company beyond its original focus on heavy-duty transit buses for the North American market and into on several other bus types and markets.
As competing manufacturer Daimler exited the North American market in 2013, New Flyer purchased the aftermarket parts business for its Orion brand of heavy-duty transit buses for US$29 million.[8] Under the agreement, New Flyer acquired the Orion parts inventory, the company's accounts, licence to use proprietary part designs and agreed to provide parts for customer warranty support.[9]
On June 21, 2013, New Flyer agreed to acquire competing heavy-duty transit bus manufacturer, North American Bus Industries (NABI) for US$80 million.[10][11] Upon completion of NABI's outstanding orders, New Flyer converted the former NABI factory in Anniston, Alabama into a fourth facility to produce the Xcelsior heavy-duty transit bus.[12]
On November 10, 2015, New Flyer agreed to acquire motorcoach manufacturer Motor Coach Industries from KPS Capital Partners for US$459 million,[13] with the deal closing on December 18, 2015.[14][15]
On December 1, 2017, NFI acquired Middlebury, Indiana-based small cutaway and medium duty bus manufacturer ARBOC Specialty Vehicles for US$95 million.[16]
On May 28, 2019, NFI Group purchased British bus and coach manufacturer Alexander Dennis, including its subsidiary Plaxton, for from Souter Investments.[17]
