NFI Buys UK Company for $546 Million
CBJ — Canadian bus manufacturer NFI Group of Winnipeg has acquired Alexander Dennis Ltd., a British maker of buses, for $546 million.
NFI, previously known as New Flyer Industries, says the deal complements its product offerings, diversifies its business and creates a platform for international growth.
ADL is based in Scotland and employs over 2,500 employees with over 31,000 vehicles in service and operations in the United Kingdom, Ireland, Europe, Hong Kong, Singapore, Malaysia, New Zealand, Mexico, Canada and the United States. ADL is the biggest manufacturer in Britain of the iconic double decker buses. The company generated more than $1 billion Canadian in revenue last year.
Under the terms of agreement, ADL chief executive Colin Robertson and ADL chief financial officer Michael Stewart will continue leading the company.