NFI Group

NFI Group Inc., previously New Flyer Industries Inc., is a manufacturer of transit buses and motorcoaches, based in Winnipeg, Manitoba, Canada. The company is the largest bus manufacturer in North America, with a 43% market share of all heavy-duty transit buses and a 45% market share of all motorcoaches produced in 2018. The company employs 9,300 across 50 facilities in the United States and Canada. 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.

This article is about the parent company of several bus manufacturers. For the manufactuer and brand, see New Flyer.
NFI Group Inc.
FormerlyNew Flyer Industries Inc.
TypePublic
TSX: NFI
IndustryAutomotive, Manufacturing
PredecessorNew Flyer Industries Limited
FoundedJune 16, 2005 (2005-06-16)
FounderJohn Coval
Headquarters
Winnipeg, Manitoba
,
Canada
Area served
North America, Europe
Key people
Paul Soubry (CEO)
ProductsMotorcoaches and transit buses
RevenueUS$2.9 billion (2019)
US$172 million (2019)
US$57.7 million (2019)
Number of employees
9,300
Subsidiaries
Websitewww.nfigroup.com

History

NFI Group Inc. was created June 16, 2005 as the parent company of New Flyer so it could be publicly traded on the Toronto Stock Exchange.[1]

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.[2]

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.[3]

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 $29 million.[4] Under the agreement, New Flyer acquired the Orion parts inventory, the company's accounts, license to use proprietary part designs and agreed to provide parts for customer warranty support.[5]

On June 21, 2013, New Flyer agreed to acquire competing heavy-duty transit bus manufacturer, North American Bus Industries (NABI).[6][7] Upon completion of NABI's outstanding orders, New Flyer converted the former NABI factory in Anniston, AL into a fourth facility to produce the Xcelsior heavy-duty transit bus.[8] On November 10, 2015, New Flyer agreed to acquire motorcoach manufacturer Motor Coach Industries from KPS Capital Partners for US$459 million,[9] with the deal closing on December 18, 2015.[10][11]

On September 22, 2016, Marcopolo S.A. reduced its stake in New Flyer to 10.8%, although it remains the largest individual shareholder.[12] On December 1, 2017, New Flyer acquired Middlebury, Indiana based small cutaway and medium duty bus manufacturer ARBOC Specialty Vehicles for US$95 million.[13]

On May 28, 2019, New Flyer purchased British bus and coach manufacturer Alexander Dennis, including their subsidiary Plaxton, for £320 million.[14]

Subsidaries

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

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

  • NFI Parts - Aftermarket bus parts company
  • Carfair Composites - fiberglass components supplier

Facilities
Senator Doug Jones cutting the ribbon at the opening of the NFI Anniston, Alabama, facility in 2018.

Manufacturing facilities

New Flyer operates five facilities where new transit buses are manufactured.

Of these facilities, the Winnipeg, St Cloud, and Anniston facilities have full production capability. The Crookston, MN and Pembina, ND facilities performs final assembly on buses from shells that are shipped from Winnipeg.

Specialty bus manufacturing

Parts distribution centers

New Flyer operates five facilities that distribute parts to customers. Some of these parts are built by New Flyer and some are OEM parts, built by other companies. The centers are geographically spread out to offer ground delivery service within two-days to all of the US and Canada.[16] These facilities also provide parts for both Orion and NABI buses, after New Flyer purchased NABI and acquired the Orion parts business from Daimler in 2013.[17]

Bus component fabrication

New Flyer operates facilities that fabricate the components used to build buses. TCB Industries is a wholly owned subsidiary that makes components for both New Flyer and other manufacturers.[18]

Service centers

New Flyer service centers are typically located in regions with the company's biggest customers. For these customers, New Flyer performs final assembly, pre-delivery inspection, acceptance, and training services for new buses. The Arnprior center also offers maintenance services for any make and model, including mid-life overhauls and collision repair.[19]

References
  1. "MRAS Business Registry Search". beta.canadasbusinessregistries.ca. Retrieved 2021-01-16.
  2. Yerema, Richard; Leung, Kristina. "Top Employer: NFI Group Inc". reviews.canadastop100.com.
  3. The Canadian Press (January 23, 2013). "Brazilian bus maker loads up stake in New Flyer Industries". The Globe and Mail. Retrieved 2017-07-13.
  4. "New Flyer buys Orion parts business of Daimler Bus". The Globe and Mail. 2013-03-01. Retrieved 2013-04-22.
  5. "New Flyer buys the Orion aftermarket parts business of Daimler Bus for US$29M". Global News. 1 March 2013. Retrieved 17 December 2020.
  6. "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.
  7. "Archived copy". Archived from the original on 2013-06-26. Retrieved 2013-06-30.CS1 maint: archived copy as title (link)
  8. Konrad, Tom (24 June 2013). "New Flyer Nabs NABI: Transit Bus Leader Advances". Forbes. Retrieved 17 December 2020.
  9. "New Flyer buys Motor Coach Industries for $604M Cdn". CBC News. November 10, 2015. Retrieved 2017-07-13.
  10. "New Flyer Industries Investor Presentation" (PDF). www.newflyer.com. January 14, 2016. Retrieved August 8, 2017.
  11. "KPS Capital Partners to Sell Motor Coach Industries for $480 Million". Paul Weiss. 10 November 2015. Retrieved 16 November 2020.
  12. 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. Retrieved 2020-01-28.
  13. "New Flyer acquires ARBOC Specialty Vehicles". New Flyer Industries. December 1, 2017. Retrieved 2018-06-03.
  14. "NFI Group Inc. Announces Acquisition of Alexander Dennis Limited". Business Insider. May 28, 2019. Retrieved 2019-05-28.
  15. "New Flyer acquires ARBOC Specialty Vehicles - New Flyer - North America's Bus Leader". 1 December 2017. Retrieved 15 October 2018.
  16. "New Flyer - New Flyer Parts Overview". www.newflyer.com. Retrieved September 18, 2016.
  17. "Aug 11, 2016 Investor Presentation" (PDF). www.newflyer.com. August 11, 2016. Retrieved September 18, 2016.
  18. "TCB Enterprises". www.tcbind.com. Retrieved 2016-09-18.
  19. "New Flyer - Service". www.newflyer.com. Retrieved 2016-09-18.

Further reading
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