Blue Bird Corporation completed the acquisition of Girardin Group's stake in the Micro Bird joint venture, taking full ownership.
Micro Bird was founded in 2009 as a joint venture between Blue Bird and Girardin and manufactures Type A school and commercial buses. It has 960 team members in Drummondville, Quebec, Canada, and Plattsburgh, N.Y.
"This is an important and exciting milestone for Blue Bird," says John Wyskiel, president and CEO of Blue Bird. "With full ownership of Micro Bird, we are further strengthening our strategic position, enhancing operational alignment and expanding our ability to serve customers with a comprehensive range of innovative transportation solutions. We are well positioned to drive long-term growth and create value for our shareholders."
[RELATED: Central States Bus Sales opens new dealership in Alabama]
The transaction is valued at about $200 million in cash and Blue Bird common stock. It will allow Blue Bird to consolidate its North American operations and unify its businesses under one brand. Blue Bird's market spans Type A, C and D school buses as well as multipurpose and commercial vehicles across diesel, gasoline, propane and electric powertrains.
As part of the transaction, Steve Girardin will sit on the Blue Bird board of directors.
"On behalf of the board, we are pleased to welcome Steve Girardin and look forward to his contributions," says Doug Grimm, chairman. "This transaction represents a natural evolution of a highly successful partnership and further strengthens Blue Bird's leadership position in the North American bus market."
Blue Bird says the deal also increases its participation in the growing Buy America-compliant shuttle bus market, which Micro Bird expanded to last year with the opening of it's New York plant.
