SCHAUMBURG, Ill. The new owner of Motor Coach Industries has appointed a new chief executive and chief financial officer for the company and pumped in $5 million to build up its parts inventory.

KPS Capital Partners, a New York investment firm that acquired the bus manufacturing firm two months ago, named veteran business executive Rick Heller chief executive and Fred Spivak chief financial officer.

Heller, former chief executive of Sleep Innovations Inc. in West Long Branch, N.J., replaces Thomas C Sorrells, who joined MCI early in 2001 at the behest of Joseph Littlejohn & Levy, another New York investment firm that owned MCI for nearly a decade.

Spivak is the former chief operating officer and chief financial officer of Lenox Group, the leading marketer of china, crystal and other giftware and collectibles, and succeeds Christopher Motogawa, MCIs CFO for the past six years.

Although KPS did not formally announce the changes that occurred the first week of this month, a company spokesman confirmed the appointments and the cash surge when asked about them.

Industry executives saw the investment in MCIs parts inventory as a means to strengthen its service and support operations, as well as ease concerns of customers who have for some time complained about MCI not having enough parts on hand and having to wait too long to receive them.

Heller comes to MCI with a wealth of business experience. Before joining Sleep Innovations, he held senior executive positions at Fortune 500 companies ConAgra and PepsiCo. He also served as chief executive of the Steak-umm Co. LLC and held senior positions at Hunt-Wesson Inc., Lea & Perrins Inc., Richardson Vicks Inc. and Frito-Lay Inc.

He also was a partner in Carl Marks Advisory Group LLC, where he gained extensive experience in the turnaround and restructuring of distressed middle-market companies. And, while at Sleep Innovations, he took the business through a pre-packaged Chapter 11 bankruptcy proceeding, emerging from the process in just five months.

MCI used a similar process when it went through bankruptcy in 2008-2009.

Spivak, the new CFO, has extensive experience in finance, administration and operations gained at a variety of positions in the giftware, apparel and consumer goods industries.

Sorrells joined MCI as chief operating officer in February 2001. He had been vice president of business development at Fairfield Manufacturing Company Inc. KPS purchased MCI in September from Franklin Mutual Advisers LLC. It has one notable bus industry achievement, having owned New Flyer Industries, the transit bus manufacturer. The company acquired New Flyer for $27.5 million and sold it less than two years later for about $200 million.

MCI, which is headquartered here, is the largest manufacturer of over-the-road coaches in North America. It has manufacturing facilities in Winnipeg, Manitoba, and Pembina, N.D., as well as seven sales centers and eight service centers in North America.