 | |
| Company type | Public |
|---|---|
| TSX: NFI | |
| Industry | Bus manufacturing |
| Predecessor | New Flyer Industries |
| Founded | June 16, 2005; 19 years ago (2005-06-16) |
| Headquarters | Winnipeg, Canada |
Area served | Worldwide |
Key people | Paul Soubry (CEO) |
| Products | Motorcoaches andtransit buses |
| Revenue |  US$2,685 million[1] (2023) |
| US$−21.3 million[1] (2023) | |
| US$−136.2 million[1] (2023) | |
| Owner | Marcopolo (10.8%) |
Number of employees | 8,500[2] |
| Subsidiaries |
|
| Website | nfigroup.com |
NFI Group Inc. is a Canadian multinationalbus manufacturer, based inWinnipeg, Canada. The company employs 8,500 people[2] across 50 facilities in nine countries. NFI Group ownsAlexander Dennis, ARBOC Specialty Vehicles,Motor Coach Industries,New Flyer,Plaxton, NFI Parts, and Carfair Composites. The company is listed on theToronto Stock Exchange under the symbol NFI, and is a constituent of theS&P/TSX Composite Index.
NFI Group was created on June 16, 2005, as theholding company ofNew Flyer Industries so it could be publicly traded on theToronto Stock Exchange.[3]
In October 2008, NFI Group. was named one ofCanada's Top 100 Employers, which was announced inThe Globe and Mail newspaper, and the company was featured inMaclean's newsmagazine. Later that month, New Flyer was also named one ofManitoba's Top Employers, which was announced by theWinnipeg Free Press newspaper.[4]
The company converted to a corporate structure from a trust-like structure in October 2011.
Brazilian bus manufacturerMarcopolo 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.[5] Marcopolo would later reduce its stake in the company to 10.8% on September 22, 2016, although it remains the largest individual shareholder.[6]
Since 2013, the NFI Group has completed severalmergers 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 manufacturerDaimler exited the North American market in 2013, New Flyer purchased the aftermarket parts business for itsOrion brand of heavy-duty transit buses forUS$29 million.[7] 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.[8]
On June 21, 2013, New Flyer agreed to acquire competing heavy-duty transit bus manufacturer,North American Bus Industries (NABI) forUS$80 million.[9][10] Upon completion of NABI's outstanding orders, New Flyer converted the former NABI factory inAnniston, Alabama into a fourth facility to produce the Xcelsior heavy-duty transit bus.[11]
On November 10, 2015, New Flyer agreed to acquire motorcoach manufacturerMotor Coach Industries from KPS Capital Partners forUS$459 million,[12] with the deal closing on December 18, 2015.[13][14]
On December 1, 2017, NFI acquiredMiddlebury, Indiana-based small cutaway and medium duty bus manufacturerARBOC Specialty Vehicles for US$95 million.[15]
On May 28, 2019, NFI Group purchased British bus and coach manufacturerAlexander Dennis, including its subsidiaryPlaxton, for£320 million (US$438.36 million).[16]
The company owns several subsidiaries that produce various kinds of buses:
The company also owns a few companies that produce parts for buses:
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