BLUE BIRD CORPORATION TO BE ACQUIRED
FORT VALLEY, GA (August 25, 2006) -Blue Bird Corporation
announced today the signing of a definitive agreement to be acquired by an
affiliate of Cerberus Capital Management, L.P. Terms of the transaction were
not disclosed.
Jeffry Bust, President and Chief Executive Officer of Blue Bird said, “The
acquisition is a significant step forward ensuring Blue Bird will remain one
of the world’s leading school and commercial bus manufacturers. The
acquisition also provides financial stability for our distributors, suppliers
and employees.”
The proposed transaction is expected to close in September. Kroll Zolfo Cooper,
LLC served as the exclusive financial advisor to Blue Bird in connection with
the transaction.
About Blue Bird
Blue Bird offers a complete line of Type A, C, and D school buses in a variety
of options and configurations. For nearly 80 years, Blue Bird Corporation
has continued to set industry standards with its innovative design, manufacturing
capabilities and customer service. Blue Bird has an extensive network of distributors
and service-parts facilities throughout North America. For more information,
please visit www.blue-bird.com
About Cerberus
Established in 1992, Cerberus Capital Management, L.P. is one of the world’s
leading private investment firms. More information on Cerberus can be found
at www.cerberuscapital.com.
# # #
For more information contact:
Mike McCurdy of Blue Bird
478-822-2008
Peter Duda of Cerberus
212-445-8213
.
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