New Flyer Industries Inc., the largest transit bus and motor coach manufacturer and parts distributor in North America, has acquired Carlson Engineered Composites Inc. and the assets of its US affiliated companies, a privately-owned composites company from Manitoba, for US$13 million, subject to certain normal and customary purchase price adjustments.
Carlson manufactures fibreglass reinforced polymer (FRP) components primarily to original equipment manufacturers of transportation vehicles and agricultural equipment, with 2016 sales exceeding US $38 million. Carlson currently employs over 300 people at three production facilities totalling 235,000 square feet and located in Winnipeg, MB; St Cloud, MN and Anniston, AL.New Flyer Industries Inc., the largest transit bus and motor coach manufacturer and parts distributor in North America, has acquired Carlson Engineered Composites Inc. and the assets of its US affiliated companies, a privately-owned composites company from Manitoba, for US$13 million, subject to certain normal and customary purchase price adjustments.#
David White, New Flyer Group’s executive vice president, supply management said, “The acquisition of Carlson will allow us to control of one of the more critical commodities in our manufacturing supply chain. As we think about the businesses of Carlson and Frank Fair Industries Ltd., the Winnipeg FRP business owned by Motor Coach Industries Limited since 1991, we can explore sharing best practices in composite part manufacturing, optimising processes, and pursuing new technologies.”
White further said, “This acquisition follows on the very successful repatriation and in-sourcing of various metal part fabrication, machining and painting operations across the Company to control quality, improve delivery performance and reduce costs for our bus manufacturing operations. Carlson’s US facilities will also contribute to the Company complying with the increasing US content requirements under increased Buy America regulations resulting from the 2015 FAST Act for the purchase of transit buses and motor coaches by US federally-funded transit agencies.”
Neil Carlson, founder and chairman of Carlson Engineered Composites Inc., “We are very proud to have become a leader in providing complex fiberglass components to transit buses. Our team has developed a tradition of integrity, execution and profitable growth and has been committed to maintaining a competitive advantage through education, innovation and technology. We have admired New Flyer and followed their growth into the US with Carlson facilities dedicated to support their operations.” (GK)
Fibre2Fashion News Desk – India
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