Summary

REV Group (NYSE: REVG) is expected to IPO on Friday (1/27/2016) and raise $250M through the offer of 12.5M shares at an expected price range of $19 to $21. At the proposed mid-point, REV Group would command a market cap value of $1.27 billion.

Underwriters for the IPO include: Goldman Sachs, Morgan Stanley, Baird, BMO Capital Markets, Credit Suisse, Deutsche Bank, Jefferies, Wells Fargo Securities, and Stifel.

As with the other major IPOs this week, we previewed this deal on our IPO Insights platform.

The deal is current oversubscribed.

Business Overview

REV Group is a leading designer, manufacturer, and distributor for emergency and specialty vehicles sold throughout the US. The company sells products for: essential needs (i.e. ambulances and school buses), industrial and commercial (i.e. street sweepers) and consumer leisure (i.e. recreational vehicles and luxury buses). Its products are sold to: municipalities, government agencies, private contractors, consumers and industrial and commercial end users. The company has grown through acquisitions of complementary vehicle lines and since its founding in 2010 has fully integrated nine acquisitions.

We previewed this deal on our IPO Insights platform.

(Source)

Executive Management Highlights

Tim Sullivan has served as CEO and director of REV Group since August 2014. Prior to joining the company, Sullivan was Chairman and Chief Executive Officer of Gardner Denver, Inc. (2013 to 2014) and the Chairman and Chief Executive Officer of Bucyrus International, Inc., (2000 to 2011). Mr. Sullivan holds a bachelor of science degree in business administration from Carroll University and a master of business administration degree from Arizona State University’s Thunderbird School of International Management.

Dean Nolden has served as Chief Financial Officer of REV Group since January 2016. Previously he held numerous executive positions at the Manitowoc Company, Inc. (1998-2016). Nolden earned a bachelor of business administration from the University of Wisconsin-Madison and a master of business administration from Marquette University.

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