Northborne Partners Facilitates Strategic Acquisition of Aluma Trailers
In a significant move for the trailer manufacturing industry, Northborne Partners has successfully acted as the exclusive financial advisor to KLM Acquisition Corporation, trading as Aluma Trailers, for its strategic sale to Novae, a notable portfolio company backed by Brightstar Capital Partners. While the financial specifics of the transaction remain confidential, the implications of this acquisition resonate throughout the marketplace.
Aluma Trailers, established in 1992 and based in Bancroft, IA, is renowned for its range of aluminum utility, recreational, and commercial trailers. With a commitment to lightweight construction, Aluma has set a benchmark in the industry, crafting trailers that embody strength, durability, and lasting value. Its distribution strategy through a well-established dealer network in both the U.S. and Canada underpins its widespread recognition.
Novae, on the other hand, boasts a robust assortment of open and enclosed cargo trailers alongside truck bodies. The inclusion of Aluma into its portfolio positions Novae to strengthen its already impressive array of premium aluminum trailer brands available through dealer partners.
Comments from Company Leaders
Mike Lloyd, who has been the President of Aluma since the turn of the millennium, articulated his enthusiasm regarding the merger, stating, "Uniting with Novae signifies a key junction for our organization and those dealers who have placed their trust in us over the years. Both Aluma and Novae uphold similar values prioritizing the growth of our staff while ensuring seamless operations for our affiliates. Our customer-centric, quality-oriented nature makes this partnership a natural alignment."
Addressing the role of Northborne in achieving this merger, Mike further added, "The team at Northborne proved immensely valuable throughout this journey. Their seasoned expertise, unwavering support, and insightful counsel were crucial in arriving at a successful conclusion for this transaction. The consistent involvement of the Northborne team instilled confidence that we would secure a fair deal with our interests safeguarded at every turn. They were steadfast partners at each step of this endeavor."
Expertise and Commitment
Paul Jevnick, Managing Director at Northborne, also expressed his pride in the transaction, mentioning, "It has been a true honor to advise Aluma in this pivotal transaction, utilizing Northborne's extensive background in supporting family-owned enterprises. Collaborating with Aluma's owners and management has been rewarding, and we eagerly anticipate witnessing the company's triumphant progression under Novae's stewardship."
Ballard Spahr provided legal counsel to Aluma during this transition, ensuring a smooth process throughout the intricacies involved in the acquisition.
About Northborne Partners
Northborne Partners is a distinguished middle-market investment banking firm, specializing in M&A advisory for businesses within diverse sectors such as industrial, healthcare, services, and food & consumer. Their expertise lies particularly with private equity-backed and closely held companies struggling with intricate sell-side transactions. With its base in Minneapolis, MN, Northborne Partners remains a progressive force in the financial advisory landscape.
About Aluma Trailers
Aluma Trailers, since its inception, has built a reputation as a leading manufacturer within the aluminum trailer sector, celebrated for unwavering quality, durability, and performance. The company prides itself on fostering innovation, maintaining manufacturing excellence, and cultivating robust dealer relationships, pivotal to its operational success.
About Novae
Novae, headquartered in Markle, IN, stands out as a preeminent manufacturer of various trailer types, including open and enclosed trailers, along with truck bodies in North America. With a legacy starting in 1995, Novae has effectively expanded its workforce to over 1,000 employees and operates more than 20 production facilities. Their overarching dealer network comprises upwards of 1,000 partners.
Frequently Asked Questions
What significance does the sale of Aluma Trailers to Novae hold?
This acquisition will enhance Novae's product offerings and dealer partnerships, reinforcing its market position in the aluminum trailer industry.
What does Northborne Partners specialize in?
Northborne Partners is a financial advisory firm focusing on mergers and acquisitions, especially for private-equity-owned businesses.
Who is the president of Aluma Trailers?
Mike Lloyd has been serving as Aluma's president since 2000, guiding the company through significant developments.
When was Aluma Trailers founded?
Aluma Trailers was founded in 1992, with a focus on manufacturing high-quality aluminum trailers.
What segment does Novae operate in?
Novae is involved in the trailer manufacturing industry, specializing in both open and enclosed trailers and truck bodies.
