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  5. Cerberus Capital Management Acquires Blue Bird

Special Situations/Distressed • Automotive

Cerberus Capital Management Acquires Blue Bird

On August 26, 2006, asset manager Cerberus Capital Management acquired automotive company Blue Bird

Acquisition Context
  • This is Cerberus Capital Management’s 2nd transaction in the Automotive sector.
  • This is Cerberus Capital Management’s 14th transaction in the United States.
  • This is Cerberus Capital Management’s 2nd transaction in Georgia.
Investment Fate
  • Blue Bird was sold to a consortium of financial buyers in 2016.

Explore All 34 Special Situations/Distressed Automotive Deals - Search the Database Free


M&A Deal Summary
Date August 26, 2006
Target Blue Bird
Sector Automotive
Buyer(s) Cerberus Capital Management
Deal Type Special Situations/Distressed

Target Company

Blue Bird

Macon, Georgia, United States
Blue Bird is a designer and manufacturer of school buses, with more than 550,000 buses sold since its formation and approximately 180,000 buses in operation today. Blue Bird’s longevity and reputation in the school bus industry have made it an iconic American brand. Blue Bird distinguishes itself from its principal competitors by its singular focus on the design, engineering, manufacture, and sale of school buses and related parts. As the only manufacturer of chassis and body production specifically designed for school bus applications, Blue Bird is recognized as an industry leader for school bus innovation, safety, product quality/reliability/durability, operating costs and drivability. Blue Bird was founded in 1927 and is based in Macon, Georgia.
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Buyer Overview 1

Buyer

Cerberus Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1992
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cerberus Capital Management is a private investment firm that targets a wide range of global investments. Cerberus primarily looks for undervalued or distressed situations. Industry sectors of interest include aerospace and defense, apparel, automotive and industrial, building products, commercial services, consumer and retail, financial services, healthcare, manufacturing and distribution, paper, packaging, and printing, real estate, technology, telecommunications, transportation, and travel. In addition to private equity investing, Cerberus also provides corporate credit and acquires real estate. Cerberus was formed in 1992 by Steve Feinberg and is based in New York City.

Deal Context for Buyer #
Overall 18 of 93
Sector: Automotive 2 of 5
Type: Special Situations/Distressed 3 of 13
State: Georgia 2 of 4
Country: United States 14 of 68
Year: 2006 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-21 North American Bus Industries

Anniston, Alabama, United States

North American Bus Industries produces a comprehensive line of innovative, heavy-duty transit buses from 31’ to 60’ (articulated) at its headquarters in Anniston, Alabama. North American Bus Industries prides itself on its environmentally responsible vehicles with CNG, hybrid-electric and clean diesel propulsion systems.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-01 Bawag Group

Vienna, Austria

Bawag Group is a banking group providing retail, SME, corporate, real estate, and public sector financial services. Bawag's offerings include deposits, consumer and housing loans, corporate lending, leasing, and investment and insurance products. Bawag Group was founded in 1922 and is based in Vienna, Austria.

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