NABI Acquires Optima Bus Corporation

21 August 2006

The Optima Opus Series-Hybrid

North American Bus Industries, Inc. (NABI)—itself acquired by Cerberus Capital in February—has acquired Optima Bus Corporation located in Wichita, Kansas. Terms of the recent transaction were not disclosed.

NABI produces and sells a complete line of standard and low-floor, heavy-duty 35’, 40’ and 60’ (articulated) transit buses available with diesel, CNG, LNG, or diesel hybrid-electric propulsion. Optima manufactures the 30-ft. and 35-ft. Opus Low-floor buses, including the series hybrid Opus based on the ISE powertrain. (Earlier post.)

The first product development opportunity that Optima will consider is the development of a 40’ low-floor bus.

With this acquisition, the newly combined organization will be a full service transit bus manufacturer providing the market with a complete range of buses from 30-ft. to 60-ft.

—Robert Shaughnessy, NABI CEO

The combined companies will have access to significant resources necessary to continue to expand the development of new products for the transportation industry. Headquartered in New York, Cerberus Capital Management, LLP and its affiliated entities manage funds and accounts with capital in excess of US$16 billion.