Blue Bird Corporation announced on February 17 2026 that it has signed a definitive agreement to acquire Girardin Group’s 50 % stake in the Micro Bird joint venture. The transaction is valued at $198.24 million for the stake, plus an additional $16.5 million for the Plattsburgh, New York plant, bringing the total to roughly $214.7 million. Blue Bird will pay 30 % in cash and 70 % in its own common stock, and the deal is expected to close in the first half of 2026 subject to customary closing conditions and regulatory approvals.
The acquisition gives Blue Bird full ownership of Micro Bird’s Type A school and commercial shuttle bus platform, which offers gasoline, propane, and electric‑powered vehicles. By consolidating the joint venture, Blue Bird expands its product lineup, strengthens its Buy America compliance for the shuttle‑bus market, and enlarges its North American footprint. The move also positions the company to capture a larger share of the growing demand for low‑emission school and commercial buses, a trend supported by federal Clean School Bus Program funding.
Blue Bird’s Q1 2026 results provide a strong backdrop for the deal. The company reported revenue of $333 million and adjusted EBITDA of $50 million, a 15 % margin, driven by robust demand for alternative‑fuel buses. Management noted that the acquisition is “delighted to purchase Girardin’s stake in Micro Bird and to take full control of the joint venture. The acquisition strengthens our strategic position and supports Blue Bird’s long‑term vision for innovation, operational performance, and sustained profitable growth.” CEO John Wyskiel also expressed anticipation for welcoming Steve Girardin to the Board. Girardin added, “This year marks our 60th year as a small bus manufacturer and our successful partnership with Blue Bird. Together, we’ve driven technology, innovation and product excellence in the bus market with a reputation of serving our customers with distinction. I’m confident that Micro Bird will continue to thrive under the sole ownership of Blue Bird, marking a natural and strategically aligned transition that supports value creation for our customers, employees, and shareholders.”
The transaction is expected to be immediately accretive, with projected diluted EPS increasing by 8.2 % in 2026 and 9.2 % in 2027. Blue Bird’s recent earnings guidance, which raised full‑year EBITDA to $225 million, reflects confidence in continued demand for its diversified powertrain offerings. Industry analysts note that Blue Bird remains the only North American manufacturer offering diesel, gasoline, propane, and electric buses, a competitive advantage that the acquisition reinforces.
Blue Bird’s strategic focus on alternative fuels aligns with broader market trends toward low‑emission transportation. The company’s expansion of its Type A platform and its strengthened Buy America compliance position it to benefit from federal incentives and growing school‑bus procurement programs that favor domestic, low‑emission vehicles. The acquisition therefore consolidates Blue Bird’s leadership in the sector and enhances its ability to meet evolving regulatory and customer demands.
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