Hennessy Capital Acquisition Corp. (HCAC) has acquired School Bus Holdings Inc., an indirect parent company of major school bus designer and manufacturer Blue Bird Corp.
‘We are acquiring an iconic American brand with an 87-year history of innovation and product leadership led by a superb management team,’ says Daniel J. Hennessy, chairman and CEO of HCAC. ‘As a public company, Blue Bird will have the capital structure, ownership support, operating flexibility and enhanced public image to achieve its maximum potential.’
The company will continue to be led by Phil Horlock, Blue Bird's current president and CEO. Blue Bird has sold more than 550,000 buses since its formation in 1927, and nearly 200,000 of its buses are in operation today.
Among the company's alternative-fuel offerings are the propane-powered version of the full-size Vision school bus, the propane Micro Bird, and the compressed natural gas (CNG) configuration of the full-size All American bus.
