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
Trisha Schultz – Wells Fargo Corporate Communications
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SOURCE REV Group, Inc.