M&A Deal Summary

NFI Group Acquires Alexander Dennis

On May 28, 2019, NFI Group acquired manufacturer Alexander Dennis from Murray Capital

Acquisition Highlights
  • This is NFI Group’s 1st transaction in the Manufacturing sector.
  • This is NFI Group’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2019-05-28
Target Alexander Dennis
Sector Manufacturing
Buyer(s) NFI Group
Sellers(s) Murray Capital
Deal Type Add-on Acquisition

Target

Alexander Dennis

Falkirk, United Kingdom
Alexander Dennis Ltd. is an independent bus and coach manufacturers offering Alexander Dennis single and double deck buses and Plaxton coaches with a history and heritage of design, engineering, and manufacturing excellence that spans more than a century. Headquartered in Scotland, ADL employs over 2,500 team members with over 31,000 vehicles in service and operations in the United Kingdom, Ireland, Europe, Hong Kong, Singapore, Malaysia, New Zealand, Mexico, Canada, and the United States.

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Buyer(S) 1

Buyer

NFI Group

Winnipeg, Manitoba, Canada

Category Company
Founded 1895
Sector Automotive
Employees8,566
Revenue 3.1B USD (2024)
DESCRIPTION
Entrance to New Flyer's headquarters in Winnipeg, Manitoba.
Entrance to New Flyer's headquarters in Winnipeg, Manitoba.

NFI Group, through its subsidiaries, including ?New Flyer Industries is a manufacturer of heavy-duty transit buses, offering a diverse range of sustainable transportation solutions including battery electric, fuel cell electric, hybrid-electric, compressed natural gas, and clean diesel buses. The Company operates multiple manufacturing facilities across Canada and the United States, producing its flagship Xcelsior® and Xcelsior CHARGE bus models. NFI Group was incorporated in 1895 and is based in Winnipeg, Manitoba.


DEAL STATS #
Overall 6 of 6
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 5 of 5
Country: United Kingdom M&A 1 of 1
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-01 ARBOC Specialty Vehicles

Middlebury, Indiana, United States

ARBOC Specialty Vehicles LLC is a producer of specialty vehicles targeting the low-floor and mobility transportation markets throughout North America. ARBOC Specialty Vehicles LLC was established in 2008 and is based in Middlebury, Indiana.

Buy -

Seller(S) 1

SELLER

Murray Capital

Edinburgh, United Kingdom

Investor Investor Investor Investor Investor


Category Family Office
Founded 2000
Size Small
Type Sector Agnostic
DESCRIPTION

Murray Capital is a family-owned investment firm focused on investing in a wide range of 'growth and value-added opportunities'. The Firm will consider businesses in a wide range of sectors, including manufacturing, technology, support services, and leisure. Murray was formed in 2000 and is based in Edinburgh, Scotland.


DEAL STATS #
Overall 3 of 8
Sector: Manufacturing M&A 1 of 2
Type: Add-on Acquisition M&A Deals 3 of 5
Country: United Kingdom M&A 3 of 7
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-11 Nu-Heat UK

Devon, United Kingdom

Nu-Heat UK Ltd. is a provider of warm water underfloor heating and integrated renewable solutions, Nu-Heat is committed to delivering fully designed, energy-efficient systems to installers, housebuilders, contractors, architects, and self-builders nationwide. Nu-Heat UK was founded in 1992 and is based in Devon, United Kingdom.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Zumo

Edinburgh, United Kingdom

Zumo is a simple and secure way to get comfortable with buying, selling, sending, and spending cryptocurrencies. Zumo B2B crypto-as-a-service platform, ZumoKit, empowers Fintechs and banks to embed crypto solutions into their existing infrastructure. Zumo was launched in 2018 and is headquartered in Edinburgh, United Kingdom.

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