Home Industries Manufacturing REV Group sells transit bus business for $52 million

REV Group sells transit bus business for $52 million

By
Andrew Weiland
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Brookfield-based REV Group Inc., a manufacturer of specialty vehicles, announced that it has finalized the sale of transit bus business ElDorado National (California) Inc. to Rivaz Inc. for $52 million. REV Group said it plans to use the proceeds from the sale to pay down debt. “ENC has a long history with five decades in

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Andrew Weiland
Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan and is a member of the Muskego Athletic Association board of directors.
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Brookfield-based REV Group Inc., a manufacturer of specialty vehicles, announced that it has finalized the sale of transit bus business ElDorado National (California) Inc. to Rivaz Inc. for $52 million. REV Group said it plans to use the proceeds from the sale to pay down debt. “ENC has a long history with five decades in the mass transit industry, so we are delighted the brand is set to continue under Rivaz. I want to thank our customers as well as ENC employees and dealers for their support during this period of transition,” said Mark Skonieczny, president and chief executive officer of REV Group. Earlier this year REV Group announced plans to wind down operations at its ElDorado National-California business by the end of fiscal 2024. The ENC business operated from a 227,000-square-foot facility in Riverside, California.

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