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REV Group Completes Sale Of Shuttle Bus Businesses

REV Group has completed the sale of its two shuttle bus businesses to Forest River effective May 8.

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REV Group, Inc., a manufacturer specialty vehicle brands, announced recently that it has completed the sale of its two shuttle bus businesses to Forest River effective May 8. Proceeds from the sale will be used to pay down outstanding borrowings under the company’s ABL debt facility. Financial details have been described within a current report on form 8-K that is being filed with the SEC.

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“We continue to review our businesses and align the portfolio to achieve our strategic objectives and create shareholder value,” said Rod Rushing, president and CEO. “The divestiture of our shuttle bus business provides an opportunity to improve our portfolio profitability, reduce debt and renew our focus on reducing our leverage. We are committed to improving our operations to achieve best-in-class performance in each of our business segments. I appreciate the hard work and dedication of our shuttle business employees and wish them success.”

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