The acquisition price was approximately $1m and the purchased business will be operated by New Flyer’s subsidiary, TCB Enterprises.
As part of the purchase of TCB, New Flyer has also entered into a memorandum of understanding (MoU) with Franz Kiel of Germany, a manufacturer of transit vehicle seats in Europe, for a supply arrangement with the distribution rights to Kiel passenger seats for city transit buses through Kiel NA.
David White, executive vice president of supply management at New Flyer, said: “Since its inception, TCB has been an important supplier to New Flyer. With this new business, New Flyer can fully leverage the intellectual property, capabilities and product offering of TCB and increase the benefits that our bus products provide to our customers.
“Further we see TCB as a key vehicle for us to further explore development of OEM parts for New Flyer buses and to grow the line of New Flyer Kinetik branded aftermarket parts.”
