New Flyer using credit facility borrowings to help fund Arboc buyout

By Sarah Lizee

Olympia, Wash., Dec. 1 – New Flyer Industries Inc. is using borrowings under its existing credit facilities along with available cash to finance the acquisition of Arboc Specialty Vehicles, LLC, according to a press release.

New Flyer subsidiary Transit Holdings, Inc. said on Friday that it acquired 100% of the equity interests in Arboc for a purchase price of $95 million.

New Flyer is a Winnipeg-based manufacturer of heavy-duty transit buses.

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