Falkirk-based Alexander Dennis Ltd (ADL), the world’s largest manufacturer of double-deck buses, has been acquired by NFI Group Inc (NFI), a leading North American bus and coach manufacturer.

The move creates an independent global bus and coach manufacturer with market-leading positions in the UK, North America and Hong Kong, plus a growing footprint elsewhere in Asia Pacific, Latin America and Europe.

ADL will retain its own brand, and chief executive Colin Robertson and chief financial officer Michael Stewart will remain in position.

They will also be tasked with driving NFI’s international growth ambitions.

ADL (www.alexander-dennis.com) has over 2,500 employees, more than 31,000 vehicles in current service, and operations in the UK, Ireland, Europe, Hong Kong, Singapore, Malaysia, New Zealand, Mexico, Canada and the USA.

NFI is North America’s largest bus manufacturer, with over 6,300 employees at a number of locations in Canada and the USA.

Paul Soubry, NFI’s president and CEO said: “This is a transformational acquisition for NFI to become a global bus manufacturer.

“ADL is the UK’s number one bus manufacturer and the number one global producer of double-deck buses, with an established international presence and recognition for innovative products and a commitment to quality and service.

“We are thrilled to have ADL join the NFI family in a transaction that we believe will drive our business forward by combining joint strengths in engineering, sales, new product development and manufacturing with NFI’s expertise in operational excellence, in-sourcing, fabrication and systems management.”

Since it was formed in 2004, ADL has gone from strength-to-strength and achieved consistent growth.

In 2018, the company generated revenues of £631 million, having grown at a compound annual growth rate of 10.5% since 2010.