May 7, 2010
The classifieds in this issue include three chief executive officer positions!
New Flyer Acquires TCB Industries
New Flyer Industries Inc. announced its acquisition, through a wholly owned subsidiary, of TCB Industries LLC of Elkhart, IN. The acquisition price was approximately $1 million and the purchased business will be operated by New Flyer’s subsidiary, TCB Enterprises LLC.
TCB is a designer and manufacturer of interior LED lighting systems, grab rails and seamless stanchions, drivers’ barriers, and other bus parts. Tony Cunnane, a former longtime employee of MTA New York City Transit, and Bob Loper, founder of B&R Mirrors in Elkhart, established TCB in 2004 and will continue to operate and grow the business.
“Since its inception, TCB has been an important supplier to New Flyer,” said David White, New Flyer’s executive vice president, supply management. “With this new business, New Flyer can fully leverage the intellectual property, capabilities, and product offering of TCB and increase the benefits that our bus products provide to our customers.”
As part of the purchase of TCB, New Flyer also entered into a memorandum of understanding with Franz Kiel GmbH of Germany (“Kiel”), a manufacturer of transit vehicle seats in Europe, for a supply arrangement with the distribution rights to Kiel passenger seats for city transit buses through Kiel NA LLC.