REV Group, Inc.

REV Group designs, manufactures, and distributes specialty vehicles and related aftermarket parts and services, primarily in the United States. The company operates through two segments: Specialty Vehicles and Recreational Vehicles. It provides customized vehicle solutions for public services like ambulances and fire apparatus, commercial infrastructure such as terminal trucks and industrial sweepers, and consumer leisure with recreational vehicles. REV Group’s portfolio includes established vehicle brands recognized within their industries. The specialty vehicle market is characterized by numerous niche markets, highly customized vehicle configurations for unique customer applications, and specialized customer bases and distribution channels, including both dealer and direct sales. The company sells its products to municipalities, government agencies, private contractors, consumers, and industrial and commercial end users. In fiscal year 2025, REV Group’s top 10 customers accounted for approximately 24% of its net sales, with no single customer representing more than 5% of net sales during that period. The company’s diverse end markets are influenced by growth drivers such as municipal spending, overall population growth, an aging population, and the replacement of existing in-service vehicles, including legislated replacements.