New Flyer Industries

New Flyer Industries is a manufacturer of heavy-duty buses in the U.S. and Canada. Offering the broadest line of transit vehicles, they have secured their strong position by providing reliable transportation solutions that meet the needs of today while anticipating the needs of tomorrow. Known for breaking new ground with the first low-floor bus, the first diesel-electric bus and most recently, the world’s first zero-emission hydrogen fuel cell fleet, they remain dedicated to innovation and excellence as they provide customers with a wide range of products such as clean-running, fuel-efficient hybrid buses; zero-emission electric trolleys; buses with alternative fuels, like hydrogen and CNG and clean diesel buses. Their products put us on the map. Quality and innovation keep us ahead. Starting in 1930 as a five-person operation known as Western Auto & Truck Body Builders Ltd., New Flyer has grown to an international organization of over 2,200 highly-skilled people dedicated to planning, producing and servicing the industry’s most reliable heavy-duty transit vehicles. To ensure consistent and dependable delivery of their industry-leading products and services, New Flyer operates manufacturing facilities in Winnipeg, MB; Crookston, MN; and St. Cloud, MN, with sales and service representatives located throughout Canada and the US. Their Aftermarket Organization operates distribution centers in Winnipeg, MB; Brampton, ON; Erlanger, KY; Fresno, CA; and a service center in Arnprior, ON. New Flyer continues to lead by example as they strive for a better product, a better workplace and a better world. Their customers are proud to know that their earth-friendly products are made in a responsible way, which includes giving their employees a safe and healthy place to work and taking steps to minimize their impact on the environment. They believe that manufacturing products that are built to last means forming solid and enduring customer relationships. This is evident every step of the way: from their first discussions about the unique needs of a prospective buyer; to quality assurance with their customers during production; to aftermarket support. It’s how they build a better product and provide better support for their customers.

Paul Soubry

President and CEO

3 past transactions

Alexander Dennis

Acquisition in 2019
Alexander Dennis Limited, headquartered in Larbert, United Kingdom, is a prominent manufacturer of buses and coaches, serving both domestic and international markets. Founded in 1990, the company produces a diverse range of products, including fuel-efficient low-floor single and double deck buses, coaches, and mini-vehicles. With a workforce of approximately 2,000 people, Alexander Dennis operates facilities in the UK, Germany, Hong Kong, Singapore, Malaysia, New Zealand, the United States, Canada, and Mexico. The company is recognized for its commitment to innovation, reliability, and environmental sustainability, providing significant benefits to operators and passengers alike. Alexander Dennis also emphasizes strong customer support, ensuring that both private and public bus operators can rely on their products for efficiency and cost-effectiveness. The company, which has undergone several branding changes, is now a subsidiary of NFI International Limited.

ARBOC Specialty Vehicles

Acquisition in 2017
ARBOC Specialty Vehicles, based in Middlebury, Indiana, is a leading manufacturer in the low-floor, small- and mid-size bus market, specializing in accessible transportation solutions. Founded in 2008, the company focuses on providing vehicles designed for various sectors, including public transit, universities, airports, assisted living facilities, special events, and hotels. ARBOC's products are characterized by their innovative design, featuring a patented accessible entranceway that ensures compliance with ADA standards. By expanding into the medium-duty transit bus segment, ARBOC demonstrates its commitment to serving a diverse range of mobility-transportation needs across North America.

Carlson Engineered Composites

Acquisition in 2017
Carlson Engineered Composites specializes in the manufacturing of fiberglass reinforced polymer (FRP) components, primarily serving original equipment manufacturers in the transportation and agricultural equipment sectors. Founded in 1985, the company initially focused on industrial and custom part fabrication before expanding into FRP water and sewage tanks. Over time, Carlson diversified its product offerings to include truck caps and parts for recreational vehicles, as well as FRP components and sub-assemblies for the transportation industry. With over 300 employees, Carlson operates three production facilities covering 235,000 square feet in Winnipeg, Manitoba; St. Cloud, Minnesota; and Anniston, Alabama. In 2016, the company reported sales exceeding USD $38 million, reflecting its established position in the FRP manufacturing market.
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