NFI Group

Last updated
NFI Group Inc.
Company type Public
TSX:  NFI
Industry Bus manufacturing
Predecessor New Flyer Industries
FoundedJune 16, 2005;19 years ago (2005-06-16)
Headquarters Winnipeg, Canada
Area served
Worldwide
Key people
Paul Soubry (CEO)
Products Motorcoaches and transit buses
RevenueIncrease2.svg US$2,685 million [1]  (2023)
Increase2.svg US$−21.3 million [1]  (2023)
Increase2.svg US$−136.2 million [1]  (2023)
Owner Marcopolo (10.8%)
Number of employees
8,500 [2]
Subsidiaries
Website nfigroup.com
Footnotes /references
[3]

NFI Group Inc. is a Canadian multinational bus manufacturer, based in Winnipeg, Canada. The company employs 8,500 people [2] across 50 facilities in nine countries. NFI Group owns Alexander Dennis, ARBOC Specialty Vehicles, Motor Coach Industries, New Flyer, Plaxton, NFI Parts, and Carfair Composites. The company is listed on the Toronto Stock Exchange under the symbol NFI, and is a constituent of the S&P/TSX Composite Index.

Contents

History

NFI Group was created on June 16, 2005, as the holding company of New Flyer Industries so it could be publicly traded on the Toronto Stock Exchange. [4]

In October 2008, NFI Group. was named one of Canada's Top 100 Employers, which was announced in The Globe and Mail newspaper, and the company was featured in Maclean's newsmagazine. Later that month, New Flyer was also named one of Manitoba's Top Employers, which was announced by the Winnipeg Free Press newspaper. [5]

The company converted to a corporate structure from a trust-like structure in October 2011.

Brazilian bus manufacturer Marcopolo S.A. acquired a 19.99% stake of New Flyer on January 23, 2013, for $116 million, the maximum it could acquire without offering to buy out other shareholders. [6] Marcopolo would later reduce its stake in the company to 10.8% on September 22, 2016, although it remains the largest individual shareholder. [7]

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 £ 320 million ( US$ 438.36 million). [17]

Subsidiaries

The company owns several subsidiaries that produce various kinds of buses:

The company also owns a few companies that produce parts for buses:

Related Research Articles

<span class="mw-page-title-main">Coach (bus)</span> Bus used for longer-distance service

A coach is a type of bus built for longer-distance service, in contrast to transit buses that are typically used within a single metropolitan region. Often used for touring, intercity, and international bus service, coaches are also used for private charter for various purposes. Coaches are also related and fall under a specific category/type of RVs.

<span class="mw-page-title-main">Blue Bird Corporation</span> American bus manufacturer based in Georgia

The Blue Bird Corporation is an American bus manufacturer headquartered in Fort Valley, Georgia. Best known for its production of school buses, the company has also manufactured a wide variety of other bus types, including transit buses, motorhomes, and specialty vehicles such as mobile libraries and mobile police command centers. Currently, Blue Bird concentrates its product lineup on school buses, school pupil activity buses, and specialty vehicle derivatives.

North American Bus Industries, Inc. (NABI) was a manufacturer of heavy-duty transit buses with its headquarters, bus manufacturing and assembly operations, located in Anniston, Alabama. Its products ranged from 31-feet to 60-feet in length, and were sold to operators throughout the United States and Puerto Rico. NABI's U.S. operations also include an aftermarket parts division in Delaware, Ohio, and an after-sales service center at Mira Loma, California.

<span class="mw-page-title-main">Motor Coach Industries</span> American coach and bus manufacturer

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<span class="mw-page-title-main">Alexander Dennis</span> Bus manufacturer based in the United Kingdom

Alexander Dennis is a British bus manufacturing company based in Larbert, Scotland. The largest bus and coach manufacturer in the United Kingdom, with a 50% market share in 2019, it has manufacturing plants and partnerships in Canada, China, Europe, Hong Kong, Malaysia, New Zealand, Singapore, South Africa and the United States.

<span class="mw-page-title-main">Carpenter Body Company</span> Defunct American bus manufacturer

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<span class="mw-page-title-main">Nova Bus</span> Canadian bus manufacturer

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Prevost, formally known as Prevost Car, is a Canadian manufacturer of touring coaches and bus shells for high-end motorhomes and specialty conversions. The company is a subsidiary of the Volvo Buses division of the Volvo Group.

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Collins Industries is an American bus manufacturer headquartered in South Hutchinson, Kansas. Best known for production of yellow school buses, the company produces buses for multiple applications; all bodies designed by the company have been produced for cutaway van chassis.

<span class="mw-page-title-main">Midibus</span> Single-decker bus between 8 and 11 metres in length

A midibus is a classification of single-decker minibuses which are generally larger than a traditional minibus but smaller than a full-size single decker and can be anywhere between 8 metres and 11 metres long. While used in many parts of the world, the midibus is perhaps most common in the United Kingdom, where operators have found them more economical, and to have a sufficient number of seats compared to full size single-decker buses.

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Henlys Group PLC was a major London motor distributor and dealer founded in 1917 in London's Great Portland Street. In the 1980s it was taken over by a company associated with Michael Ashcroft, then some years later sold to Yorkshire bus manufacturer Plaxton.

<span class="mw-page-title-main">Cutaway van chassis</span> Incomplete vehicle for further assembly by a manufacturer of conversion vans, RVs, ambulances, etc

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<span class="mw-page-title-main">Marcopolo S.A.</span> Brazilian bus and coach manufacturer

Marcopolo S.A. is a Brazilian bus, coach and rail manufacturer, founded on 6 August 1949 in the southern Brazilian city of Caxias do Sul, state of Rio Grande do Sul. The company manufactures the bodies for a whole range of coaches, e.g. microbus, intercity, and touring models.

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<span class="mw-page-title-main">Goshen Coach</span>

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<span class="mw-page-title-main">New Flyer</span> Canadian multinational bus manufacturer

New Flyer is a Canadian multinational bus manufacturer, specializing in the production of transit buses. New Flyer is owned by the NFI Group, a holding company for several bus manufacturers. New Flyer has several manufacturing facilities in Canada and the United States that produce the company's main product, the New Flyer Xcelsior family of buses.

<span class="mw-page-title-main">NABI LFW</span> American low-floor transit buses

The NABI LFW is a line of low-floor transit buses available in 30' rigid, 35' rigid, 40' rigid, and 60' articulated lengths manufactured by North American Bus Industries (NABI) between 1997 and 2015. In addition to the different available lengths, the buses were sold with a variety of powertrains, including conventional diesel, LNG, and CNG combustion engines along with a diesel-electric hybrid system

<span class="mw-page-title-main">ENC (company)</span> Soon-to-be-defunct American manufacturer of heavy-duty transit buses

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References

  1. 1 2 3 "2023 Q4 Financial Report" . Retrieved November 27, 2024.
  2. 1 2 "NFI Group 2024 Annual Information Form".
  3. "NFI Group Inc. Financials & Filings". TMX Money. Retrieved 2022-06-23.
  4. "MRAS Business Registry Search". beta.canadasbusinessregistries.ca. Retrieved 2021-01-16.
  5. Yerema, Richard; Leung, Kristina. "Top Employer: NFI Group Inc". reviews.canadastop100.com.
  6. The Canadian Press (January 23, 2013). "Brazilian bus maker loads up stake in New Flyer Industries". The Globe and Mail . Retrieved 2017-07-13.
  7. Markets, CIBC World (2016-09-22). "Marcopolo Sells a Portion of Its Shares of New Flyer and Confirms Ongoing Commercial Cooperation Initiatives". GlobeNewswire News Room (Press release). Retrieved 2020-01-28.
  8. "New Flyer buys Orion parts business of Daimler Bus". The Globe and Mail. 2013-03-01. Retrieved 2013-04-22.
  9. "New Flyer buys the Orion aftermarket parts business of Daimler Bus for US$29M". Global News. 1 March 2013. Retrieved 17 December 2020.
  10. "New Flyer confirms the successful closing of North American Bus Industries, Inc. acquisition and related financial transactions" (PDF) (Press release). New Flyer Industries. June 21, 2013. Archived from the original (PDF) on January 24, 2014. Retrieved 2017-07-13.
  11. "Welcome to New Flyer!". Archived from the original on 2013-06-26. Retrieved 2013-06-30.
  12. Konrad, Tom (24 June 2013). "New Flyer Nabs NABI: Transit Bus Leader Advances". Forbes. Retrieved 17 December 2020.
  13. "New Flyer buys Motor Coach Industries for $604M Cdn". CBC News. November 10, 2015. Retrieved 2017-07-13.
  14. "New Flyer Industries Investor Presentation" (PDF). www.newflyer.com. January 14, 2016. Retrieved August 8, 2017.[ dead link ]
  15. "KPS Capital Partners to Sell Motor Coach Industries for $480 Million". Paul Weiss. 10 November 2015. Retrieved 16 November 2020.
  16. "New Flyer acquires ARBOC Specialty Vehicles". New Flyer Industries. December 1, 2017. Retrieved 2018-06-03.
  17. "NFI Group Inc. Announces Acquisition of Alexander Dennis Limited". Business Insider . May 28, 2019. Archived from the original on December 6, 2021. Retrieved 2019-05-28.