NEW FLYER ACQUIRES ARBOC SPECIALTY VEHICLES
Transit Holdings Inc., a U.S. subsidiary of New Flyer Industries Inc. (NFI Group) acquired 100% of the equity interests
The acquisition represents a continuation of NFI Group’s growth and diversification strategy and was not subject to any pre-closing regulatory or antitrust requirements Established in 2008, Arboc is a North American pioneer and leader in low-floor body-on-chassis (or cutaway) bus technology. These buses range between 21- and 35-feet in length, and operate in transit, paratransit, and shuttle applications. Arboc buses exceed U.S. federal fuel economy standards, Buy America requirements, and undergo safety testing beyond industry norms. Arbod has raised the industry standards for cutaway bus passenger accessibility and comfort over traditional high-floor cutaway vehicles.The North American cutaway bus market has an estimated annual volume of between 16,000 to 18,000 units, which is more than three times the current estimated size of the heavy-duty transit bus market, and more than six times the current estimated motorcoach market..