Blue Bird Sold to SPAC in Leading Transportation Industry Deal

SRZ advised Cerberus Capital Management and its affiliate The Traxis Group BV in the sale of all of the capital stock of School Bus Holdings Inc., an indirect parent company of Blue Bird, a leading designer and manufacturer of school buses. The buyer, Hennessy Capital Acquisition Corp., was established as a special purpose acquisition company, or SPAC, which changed its name to Blue Bird Corporation upon closing. The deal was announced on Sept. 22, 2014 and closed on Feb. 24, 2015. The Traxis Group retained a significant ownership interest in the public company. SRZ also represented Cerberus in its acquisition of Blue Bird in 2006.