Blue Bird acquired by investment firm
On Aug. 25, Blue Bird Corp. announced the signing of a definitive agreement to be acquired by an affiliate of Cerberus Capital Management. Terms of the transaction were not disclosed.
FORT VALLEY, Ga. — On Aug. 25, Blue Bird Corp. announced the signing of a definitive agreement to be acquired by an affiliate of Cerberus Capital Management. Terms of the transaction were not disclosed.
Jeffry Bust, president and CEO of Blue Bird, said the acquisition is “a significant step forward ensuring Blue Bird will remain one of the world’s leading school and commercial bus manufacturers. The acquisition also provides financial stability for our distributors, suppliers and employees.”
The proposed transaction was expected to close in September. Kroll Zolfo Cooper LLC served as the exclusive financial adviser to Blue Bird in connection with the transaction.
In late January, Blue Bird Corp. filed a prepackaged restructuring plan with the U.S. Bankruptcy Court, District of Nevada. The plan was confirmed by the court and became effective within a few days. Among other things, it increased the company’s borrowing availability by $52.5 million.
Cerberus, a New York-based hedge fund that invests in distressed companies, acquired North American Bus Industries (NABI), a manufacturer of transit buses, earlier this year. In turn, NABI acquired another transit bus manufacturer, Optima Bus Corp. in Wichita, Kan., in August.
Blue Bird, founded in 1927, manufactures Type A, C and D school buses, as well as a line of commercial buses and motorhomes. It has 3,000 employees at manufacturing facilities in Fort Valley; Lafayette, Ga.; and Brantford, Ontario.
Since October 2004, Blue Bird has been the sole operating subsidiary of Peach County Holdings, a group formed by Volvo (42.5 percent), a syndicate of creditors of past owner Henlys (42.5 percent) and Blue Bird management and a pension fund (15 percent).
In other news, Blue Bird Corp. promoted Jim Moberg, general manager of service parts, to vice president of school bus sales and marketing following the retirement of 29-year veteran Kim Cassell.
Cassell’s leadership is credited with contributing immensely to Blue Bird’s success. In retirement, Cassell will dedicate his energy to his volunteer outreach ministry activities and to spending time with his wife and family.
Since joining the Blue Bird fold in 2004, Moberg has spearheaded growth and productivity increases in the company’s service parts organization by working closely with distributors and the school bus sales organization. He has led both the product support and customer service teams and directed the department’s strategic and marketing campaigns.
More Management
13 Industry Leaders Describe School Transportation in One Word
What word best describes the school bus industry today? We posed that question to over a dozen manufacturers, resulting in a revealing mix of perspectives on the challenges and opportunities ahead.
Read More →
Tyler Technologies Adds New AI, Transactions Leadership Roles
Two company executives are promoted to newly created C-suite positions to accelerate the company's long-term growth in both artificial intelligence and payments.
Read More →
Pro-Vision Acquires Convoy Technologies
The deal aims to broaden customer relationships and adds specialized vehicle video capabilities for commercial fleets.
Read More →
Durham School Services Maintenance Teams Earn Missouri Fleet Excellence Awards
Eight of the contractor’s school bus fleets achieved a distinction few maintenance teams earn during the state’s rigorous annual inspection program.
Read More →How Incentives, AI, and Energy Markets Are Reshaping School Transportation
Sit down with Joe Annotti of TRC Companies to talk district grant funding, utility challenges, AI, and why school buses are evolving from transportation assets into energy assets.
Read More →
Inside the Contracting Shift: What School Transportation Operators Are Seeing Now
School transportation contractors weigh in on recent trends, costs, driver shortages, and the rise of multimodal student transportation.
Read More →The No-Idling School Bus AC System
Take a peek at ExoAir Systems’ battery-powered cooling solution designed to run for up to 10 hours without the engine on, reducing fuel use and improving comfort for drivers and students.
Read More →Geotab on Three Major Trends in School Transportation
School bus fleets are becoming more proactive than ever. From AI driver alerts to vehicle-to-grid opportunities, Geotab outlines the biggest technology trends transforming school bus operations.
Read More →
Gatekeeper Lands Major School Bus Deals as Revenue Surges
The video solutions provider announces contracts with Atlanta Public Schools and other fleet operators as it records quarterly revenue growth and expanding subscription business.
Read More →
Building Leaders Who Last: Creating a Successful Mentorship Program in Student Transportation
Discover five strategies for building an effective mentorship program to strengthen leadership development and support staff retention.
Read More →



