MILWAUKEE, Oct. 20, 2016
/PRNewswire/ -- REV Group (REV), a $2
billion specialty vehicle (SV) manufacturer, announced today
that they chose Wells Fargo Commercial Distribution Finance (CDF),
part of Wells Fargo & Company, to launch a new program for
dealer and distributor financing across the U.S. and Canada. REV Financial Services™ will provide
SV and manufactured equipment dealers with a range of financing
programs, and access to a suite of online business tools that can
help meet today's complex business requirements and simplify
inventory management.
The benefits of REV Financial Services extend beyond flexible
financing programs. Dealers can tap into resources tailored for
streamlining day-to-day operations and help businesses grow
with:
- Common operating platform for all North American REV
dealers
- Pre-owned financing capabilities
- Opportunities for improved liquidity and enhanced cash
flow
- Field service representatives deployed to complete onsite
inventory inspections
- Dedicated sales and servicing professionals with extensive
industry experience
Dealers using REV Financial Services will also have access to
Wells Fargo CDF's industry leading digital tool Customer Online
Management System (COMS). COMS is an easy-to-use system that
accepts payments and offers inventory management tools. Those
participating in the program can also use Dealer Insights, an
online portal within COMS that delivers analytic and tactical
reporting customized to a user's unique business such as inventory
statistics, local demographics, and financing options.
"We are excited to announce the launch of our program with Wells
Fargo CDF," said Tim Sullivan,
president and CEO of REV Group. "By joining forces with them our
extensive network of dealers can use top-of-the-line inventory
financing solutions and analytics."
Headquartered in Milwaukee, REV
Group is an industry-leading company with more than 20,000 vehicle
sales per year. The company manufactures brands of buses, mobility
vehicles, ambulances, fire apparatuses, recreation vehicles,
terminal trucks and sweepers, and provides dealers with reduced
borrowing cost options and larger credit facilities.
"REV Group manufactures 26 unique brands within the specialty
vehicle industries, and their dealers require an enormous amount of
information to run their operations," said Tim Hyland, president of the RV and SV Group,
Wells Fargo CDF. "This is a fantastic opportunity to
strengthen our relationship with REV and give their dealers the
tools, insights and analytics to help them maintain and grow their
operations."
About REV Group, Inc.
REV Group, Inc., is a more than $2
billion manufacturer of industry-leading motor vehicle
brands. Products include ambulances, fire trucks, shuttle buses,
transit buses, yard trucks, street sweepers, luxury motorhomes and
wheelchair accessible vehicles. REV owns 26 brands, employs
approximately 6,000 people in 16 different manufacturing facilities
in the U.S., and produces more than 20,000 specialty vehicles
annually. REV Group recently moved its corporate headquarters from
Orlando, Fla., to Milwaukee, Wisc. For more information about
REV visit revgroup.com.
About Wells Fargo Commercial Distribution Finance
Commercial Distribution Finance (CDF) provided $47 billion in financing for more than 40,000
dealers and more than 2,000 distributors and manufacturers globally
in 2015. CDF provides inventory financing solutions, service and
intelligence through in-depth industry expertise and commitment.
Programs include inventory and accounts receivable financing,
asset-based lending, private label financing, collateral
management, and related financial products. On March 1, 2016, Wells Fargo acquired the North
American business of CDF from GE Capital. The sale will be
completed as a phased approach with the remainder of the business
closing globally in 2016. For more information, visit cdf.wf.com or
follow company news via Twitter @WellsFargoCDF.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.8 trillion in assets. Founded in 1852 and
headquartered in San Francisco,
Wells Fargo provides banking, insurance, investments, mortgage, and
consumer and commercial finance through 8,800 locations, 13,000
ATMs, the internet (wellsfargo.com) and mobile banking, and has
offices in 36 countries to support customers who conduct business
in the global economy. With approximately 269,000 team members,
Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 27 on
Fortune's 2016 rankings of America's largest corporations. Wells
Fargo's vision is to satisfy our
customers' financial needs and help them succeed
financially. Wells Fargo perspectives are also available at
Wells Fargo Blogs and Wells Fargo Stories.
For more information:
Renato
Sa – REV Group Corporate Marketing
(786) 279 7016
renato.sa@revgroup.com
Trisha Schultz – Wells Fargo
Corporate
Communications
(314) 875-3863
Trisha.Schultz@wellsfargo.com
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SOURCE REV Group, Inc.