22 Sep '14, 6pm

Blue Bird to be acquired, will be publicly traded company - News - School Bus Fleet

FORT VALLEY, Ga. — School bus manufacturer Blue Bird is on its way to becoming a publicly traded company, with a pending purchase by a Houston-based capital firm. Hennessy Capital Acquisition Corp. (HCAC) has entered into a definitive purchase agreement to acquire all of the outstanding capital stock of School Bus Holdings Inc., an indirect parent company of Blue Bird Corp., from The Traxis Group BV, which is majority-owned by funds affiliated with Cerberus Capital Management LP. The aggregate equity purchase price will be $255 million, composed of cash and shares of HCAC common stock. Also, HCAC will assume about $235 million of Blue Bird’s existing indebtedness. Blue Bird was acquired by the Cerberus affiliate in 2006 . Earlier that year, the school bus manufacturer had implemented a restructuring plan. Under the deal announced on Monday, Cerberus will retain an ownershi...

Full article: http://www.schoolbusfleet.com/channel/management-training...

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