NFI Group

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NFI Group Inc.
Company type
Public
TSX: NFI
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HeadquartersWinnipeg, Canada
Area served
Worldwide
Key people
John Sapp (CEO) [1]
ProductsMotorcoaches and transit buses
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OwnerColiseum Capital Management (19.9%) [1]
Marcopolo (10.8%)
Number of employees
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Websitenfigroup.com

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NFI Group Inc. is a Canadian multinational bus manufacturer, based in Winnipeg, Canada. The company employs 9,000 people[3] across 50 facilities in nine countries. 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.

History

NFI Group was created on June 16, 2005, as the holding company of New Flyer Industries so it could be publicly traded on the Toronto Stock Exchange.[4]

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.[5]

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.[6] Marcopolo would later reduce its stake in the company to 10.8% on September 22, 2016, although it remains the largest individual shareholder.[7]

Mergers and acquisitions

Since 2013, the NFI Group has completed several mergers 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 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 Template:US$.[8] 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.[9]

On June 21, 2013, New Flyer agreed to acquire competing heavy-duty transit bus manufacturer, North American Bus Industries (NABI) for Template:US$.[10][11] Upon completion of NABI's outstanding orders, New Flyer converted the former NABI factory in Anniston, Alabama into a fourth facility to produce the Xcelsior heavy-duty transit bus.[12]

On November 10, 2015, New Flyer agreed to acquire motorcoach manufacturer Motor Coach Industries from KPS Capital Partners for Template:US$,[13] with the deal closing on December 18, 2015.[14][15]

On December 1, 2017, NFI acquired Middlebury, Indiana-based small cutaway and medium duty bus manufacturer ARBOC Specialty Vehicles for US$95 million.[16]

On May 28, 2019, NFI Group purchased British bus and coach manufacturer Alexander Dennis, including its subsidiary Plaxton, for Template:GBPConvert from Souter Investments.[17]

Subsidiaries

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

  • Alexander Dennis – Heavy-duty transit buses and double-deck transit buses
  • ARBOC Specialty Vehicles – Medium-duty transit buses and cutaway buses
  • Motor Coach Industries – Motorcoaches
  • New Flyer – Heavy-duty transit buses
  • Plaxton – Motorcoaches for the European market

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

References

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  1. ^ a b Page Module:Citation/CS1/styles.css has no content."NFI Announces CEO Transition". Retrieved December 17, 2025. Cite error: The named reference "Press Release Details" was defined multiple times with different content (see the help page).
  2. ^ a b c Page Module:Citation/CS1/styles.css has no content."2024 Q4 Financial Report". Retrieved June 27, 2025.
  3. ^ a b Page Module:Citation/CS1/styles.css has no content."NFI Group 2025 Annual Information Form".
  4. ^ Page Module:Citation/CS1/styles.css has no content."MRAS Business Registry Search". beta.canadasbusinessregistries.ca. Archived from the original on 2021-10-31. Retrieved 2021-01-16.
  5. ^ Page Module:Citation/CS1/styles.css has no content.Yerema, Richard; Leung, Kristina. "Top Employer: NFI Group Inc". reviews.canadastop100.com.
  6. ^ Page Module:Citation/CS1/styles.css has no content.The Canadian Press (January 23, 2013). "Brazilian bus maker loads up stake in New Flyer Industries". The Globe and Mail. Retrieved 2017-07-13.
  7. ^ Page Module:Citation/CS1/styles.css has no content.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 (Press release). Retrieved 2020-01-28.
  8. ^ Page Module:Citation/CS1/styles.css has no content."New Flyer buys Orion parts business of Daimler Bus". The Globe and Mail. 2013-03-01. Retrieved 2013-04-22.
  9. ^ Page Module:Citation/CS1/styles.css has no content."New Flyer buys the Orion aftermarket parts business of Daimler Bus for US$29M". Global News. 1 March 2013. Retrieved 17 December 2020.
  10. ^ Page Module:Citation/CS1/styles.css has no content."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.
  11. ^ Page Module:Citation/CS1/styles.css has no content."Welcome to New Flyer!". Archived from the original on 2013-06-26. Retrieved 2013-06-30.
  12. ^ Page Module:Citation/CS1/styles.css has no content.Konrad, Tom (24 June 2013). "New Flyer Nabs NABI: Transit Bus Leader Advances". Forbes. Retrieved 17 December 2020.
  13. ^ Page Module:Citation/CS1/styles.css has no content."New Flyer buys Motor Coach Industries for $604M Cdn". CBC News. November 10, 2015. Retrieved 2017-07-13.
  14. ^ Page Module:Citation/CS1/styles.css has no content."New Flyer Industries Investor Presentation" (PDF). www.newflyer.com. January 14, 2016. Retrieved August 8, 2017.[dead link]
  15. ^ Page Module:Citation/CS1/styles.css has no content."KPS Capital Partners to Sell Motor Coach Industries for $480 Million". Paul Weiss. 10 November 2015. Retrieved 16 November 2020.
  16. ^ Page Module:Citation/CS1/styles.css has no content."New Flyer acquires ARBOC Specialty Vehicles". New Flyer Industries. December 1, 2017. Retrieved 2018-06-03.
  17. ^ Page Module:Citation/CS1/styles.css has no content."NFI Group Inc. Announces Acquisition of Alexander Dennis Limited". Business Insider. May 28, 2019. Archived from the original on December 6, 2021. Retrieved 2019-05-28.

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