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Goodmans Deals & Cases

This section contains brief summaries of selected significant cases and transactions.  You'll also find representative lists  - by year - of major transactions and cases where Goodmans' involvement is a matter of public record or where inclusion in the list has been authorized by our clients.

New Flyer Industries Inc. Acquires Motor Coach Industries International, Inc.

2015

Areas Competition, Antitrust and Foreign Investment, Corporate and Commercial, Private Equity

Summary

Goodmans represented KPS Capital Partners, L.P. (KPS) in Canada with respect to the sale of portfolio company, Motor Coach Industries International, Inc. (MCI) to New Flyer Industries Inc. for cash consideration of US$455 million, subject to certain purchase price adjustments. MCI is a leading manufacturer of intercity coaches in the US and Canada. New Flyer is a leading manufacturer of heavy-duty transit buses in the US and Canada.

The acquisition was funded through the amendment and extension of New Flyer’s senior secured credit facility with The Bank of Nova Scotia, as administrative agent, and a syndicate of lenders. The maturity date was extended to December 18, 2019 and the total amount of the facilities was increased to US$825 million. The borrowing limits of the revolving facility were increased to US$343 million and the term facility was increased to US$482 million.