BROOKFIELD, Wis., Oct. 18, 2024–(BUSINESS WIRE)–REV Group, Inc. (NYSE: REVG), an industry-leading manufacturer of specialty vehicle brands, exited the bus manufacturing business earlier this year. Today, we announce the completion of the sale of ElDorado National (California), Inc. (ENC) to Rivaz, Inc. for approximately $52 million. REV Group intends to use the net proceeds from the sale to repay outstanding borrowings under its ABL Credit Facility.
“ENC has a long history spanning 50 years in the mass transit industry, so we are pleased that this brand will continue under Rivaz. We would like to thank not only our customers but also ENC employees for their support during this transition period. and our dealers,” said Mark Skonieczny, President and CEO of REV Group.
About REV Group Co., Ltd.
REV Group of Companies is a leading designer and manufacturer of specialty vehicles and related aftermarket parts and services, serving a diverse customer base primarily in the United States through two segments: specialty vehicles and recreational vehicles. I am. The Special Vehicles segment provides customized vehicle solutions for applications, including essential needs for public services (ambulances and fire equipment) and commercial infrastructure (terminal trucks and industrial cleaning trucks). REV Group’s recreational vehicle division manufactures a variety of RVs, from Class B vans to Class A campers. REV Group’s portfolio consists of established and leading automotive brands, including many of the most well-known brands in the industry. Several of REV Group’s brands are pioneers in the special vehicle product category, with a history dating back more than 50 years. REV Group trades on the NYSE under the symbol REVG. Investor-REVG
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