New Flyer acquires ARBOC Specialty Vehicles

On December 1, 2017, Transit Holdings, Inc., a U.S. subsidiary of New Flyer Industries Inc. ("NFI Group") announced that it acquired 100% of the equity interests in ARBOC Specialty Vehicles, LLC ("ARBOC") for a purchase price of US$95 million, subject to certain purchase price adjustments, including satisfaction of debt. NFI Group is using available cash and its existing credit facilities to finance the transaction.

Wells Fargo Securities acted as the exclusive financial advisor to New Flyer on the transaction.

ARBOC is a North American pioneer and leader in low-floor body-on-chassis (or "cutaway") bus technology.

NFI Group and its subsidiaries comprise the largest transit bus and motor coach manufacturer and parts distributor in North America, with 31 fabrication, manufacturing, distribution, and service centers across Canada and the U.S. employing over 5,800 team members.

Further information can be found on Canada Newswire's website.