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GDEV Management Announces Sale of Revolv to Fleet Electrification Provider Zenobē
The acquisition of Revolv marks the first portfolio exit from GDEV’s second FundNEW YORK, March 19, 2026 (GLOBE NEWSWIRE) -- GDEV Management, LLC (“GDEV”), a leading middle-market specialist in distributed energy resources, today announced the sale of commercial EV fleet full-service provider Revolv to Zenobē. Backed by leading global investment firms KKR and Infracapital, Zenobē specializes in fleet electrification and battery storage solutions. Revolv’s commercial EV fleet assets marks Zenobē’
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The acquisition of Revolv marks the first portfolio exit from GDEV’s second Fund NEW YORK, March 19, 2026 (GLOBE NEWSWIRE) -- GDEV Management, LLC (“GDEV”), a leading middle-market specialist in distributed energy resources, today announced the sale of commercial EV fleet full-service provider Revolv to Zenobē. Backed by leading global investment firms KKR and Infracapital, Zenobē specializes in fleet electrification and battery storage solutions. Revolv’s commercial EV fleet assets marks Zenobē’s entry into the North American commercial fleet and truck segment, adding to its growing portfolio of student transportation and public transit fleets in the United States. Revolv’s turnkey fleet electrification solution brought an entirely new offering to the commercial fleet market, successfully deploying to 13 customer sites in the face of continued market uncertainty. Revolv proved substantial resiliency as a business and in its unit economics, culminating in the transaction with Zenobē. In addition to existing customer sites and trucks, Zenobē is acquiring additional projects in development to support its North American growth. “We applaud Zenobē’s shared confidence in the inevitability of commercial fleet electrification, and this transaction validates the platform we built to serve the market at scale,” said Scott Davidson, CEO and founder of Revolv. “I’m incredibly proud of our team and grateful to the customers and investors who helped create one of the largest U.S. commercial EV platforms. As the market enters its next phase, this transaction provides the scale, capital, and capabilities customers need to fully embrace commercial EVs.” GDEV recently closed its $200MM Fund II, which represented a continued focus on the firm’s strategy of building and scaling distributed energy resource (DER) platforms into mature infrastructure businesses that, in turn, deploy and operate long-term, high-value assets. The acquisition of Revolv by Zenobē represents the first company exit from the second fund, allowing the company to maintain its growth and provide returns to GDEV. “Revolv marked GDEV’s first investment in the e-mobility space, and we are happy to see our conviction in the market play out through the completion of this acquisition, which also represents the first realization for our second fund,” said Quinn Pasloske, Managing Director of GDEV Management. “...