Rev Group Sells Riverside-based Bus Manufacturing Unit to Rivaz Inc.

Rev Group Inc. sold its Riverside-based bus manufacturing unit ElDorado National - California Inc. to Rivaz Inc. for $52 million on October 18. REV Group intends to use the net proceeds from the sale to pay down outstanding borrowings.

ElDorado National - California Inc. manufactures low floor and standard floor buses for public transit/paratransit, airport, parking and university transportation markets. The unit had been slated to close by year-end due to a variety of reported issues that made it difficult to continue operating profitably. The company debuted a new product in 2022 that relied on Proterra battery technology, but the battery company declared bankruptcy in August 2023.

As of October 18, ElDorado National - California Inc. operates as a subsidiary of Rivaz Inc.