Deal Details

REV Group Completes $303.6 Million Follow-On Offering

Industrial

REV Group follow-on offering

Summary

REV Group, Inc. (NYSE: REVG) (“REV Group”), a portfolio company of American Industrial Partners (“AIP” or the “Selling Stockholder”), recently completed an upsized secondary public offering of REV Group’s common stock (the “Offering”) on behalf of AIP. The aggregate size of the Offering was 18,400,000 shares of common stock, including 2,400,000 shares sold pursuant to full exercise of the underwriters’ option to purchase additional shares from the Selling Stockholder at a price of $16.50 per share. REV Group did not receive any proceeds from the Offering.

Concurrently, REV Group repurchased 8,000,000 shares of its common stock at a price per share equal to the price paid to AIP by the underwriters in the Offering, which is approximately $15.76 per common stock.

Baird served as the lead bookrunner on this Offering.

About

REV Group, Inc. is a leading designer, manufacturer and distributor of specialty vehicles and related aftermarket parts and services. REV Group serves a diversified customer base, primarily in the U.S. and Canada, through two segments: Specialty Vehicles and Recreational Vehicles. REV Group provides customized vehicle solutions for applications, including essential needs for public services (ambulances and fire apparatus), commercial infrastructure (terminal trucks and industrial sweepers) and consumer leisure (recreational vehicles). REV Group’s diverse portfolio is made up of well-established principal vehicle brands, including many of the most recognizable names within their industry. REV Group is headquartered in Brookfield, Wisconsin.

American Industrial Partners is an operationally-oriented middle market private equity firm that is distinctively focused on buying and improving industrial businesses with operations in the U.S., Canada and other developed markets. The AIP Team has deep roots in the industrial economy and has been active in private equity investing across three economic cycles. AIP has completed over 125 platform and add-on acquisitions and invests in all forms of corporate divestitures, management buyouts, recapitalizations and going-private transactions of established businesses with sales greater than $500 million. AIP is headquartered in New York, New York.

Industrial

REV Group follow-on offering