Scots bus firm sold to Canadians
● The £320m deal sees Colin Robertson run NFI’S overseas unit from Scotland
Scottish bus and coach builder Alexander Dennis has been bought by Canadian firm NFI Group in a £320 million deal.
Head quartered in Falkirk, Alexander Dennis employs about 2,500 people across its UK operations and has a history that can be traced back more than a century.
Bosses said the partnership was “a complementary fit for both parties”, and would allow them to share best practice.
Alexander Dennis, the longestablished Scottish bus and coach builder and one of the country’s manufacturing success stories, has been acquired by Canadian firm NFI Group in a £320 million deal.
Headquar tered in Falkirk, Alexander Dennis has a history that can be traced back more than a century. NFI is described as North America’s “largest and most diversified bus manufacturer”, employing more than 6,300 people across Canada and the US.
Colin Robertson, chief executive of Alexander Dennis Limited (ADL), has been appointed to lead NFI’S international operations from Scotland, while ADL’S chief financial officer, Michael Stewart, will continue in post.
ADL was established in 2004 when a consortium of Scottish entrepreneurs led by Stage - coach co -founder Sir Brian S outer and including Dame Ann Gloag (Souter’s sister), Sir Angus Grossart and Sir David Murray acquired the business from Transbus International’s administrators.
ADL employs about 2,500 people across its UK operations and supports a further 1,500 jobs through subsidi - aries and build partnerships globally.
Robertson said: “This is an exciting day for our company and people. We can be proud of the transformation of our company from a traditional UK bus builder to a global leader with annual revenue in 2018 exceeding £630m.
“We look forward to becoming an important part of NFI while retaining our identity. This partnership is a complementary fit for both parties, allowing sharing of best practice and technology development, to form one of the largest independent bus and coach manufacturers in the world.
“NFI is a company we know well having engaged in a joint venture with them previously, and it was important to all of us at ADL that we were joining a team that shares our same culture and values.”
S outer, chairman of S outer Investments, said :“Colin, Michael and their team at ADL have built a fantastic market leading business. Having been involved with ADL since 2004, I have witnessed the transformation of the company into a truly international business with an exceptional product portfolio, a reputation for innovation and design and engineering excellence, and a first-class approach to customer service.”
NFI’S president Paul Soubry said: “ADL is the UK’S number one bus manufacturer and the number one global producer of double - deck buses, with an established international presence and is recognised as a leader known for innovative products and a commitment to quality and service.
“We’re thrilled to have ADL join the NFI family and to be investing in such a great engineering and manufacturing success story, and a company we already know so well.
“AD Li san outstanding company with a strong track record and we look forward to working with the whole team to build more success on those solid foundations.”