Novae, a manufacturer of open and enclosed cargo trailers and truck bodies, said it has acquired Aluma, adding a long-standing aluminum trailer brand to its portfolio as it seeks to broaden product offerings and strengthen its dealer-distributed platform.
Aluma, founded in 1992, is known for aluminum utility, recreational, and commercial trailers. Novae said the acquisition positions Aluma to further expand its open-trailer lineup while also expanding into enclosed cargo trailers and truck bodies. Financial terms were not disclosed.
Novae CEO Manish Bhandari said the combination will enable the company to offer a broader portfolio of aluminum and steel trailers, with a focus on new product development and expanded manufacturing and distribution across North America. Novae said the deal is intended to expand its product portfolio, enhance manufacturing capabilities, and create additional opportunities for dealer partners.
Aluma will continue to operate under its existing leadership, with CEO Mike Lloyd and the current management team remaining in place. The company will continue to be headquartered in Bancroft, Iowa.
Novae, headquartered in Markle, Indiana, operates multiple trailer brands, including Sure-Trac, H&H Trailers, CAM Superline, Midsota, Pace American, Formula, and LOOK, and said it has more than 1,000 employees, over 20 manufacturing facilities, and an active dealer network of more than 1,000 partners.
KEY QUOTES:
“This partnership reinforces our long-term commitment to offer high-quality trailers and equipment for our dealers and customers. The Aluma team has built an amazing reputation in the industry as a pioneer and leader in aluminum trailers. Together, we will provide a full portfolio of aluminum and steel trailers with a focus on new and innovative products, manufactured and distributed across the entire North American footprint.”
Manish Bhandari, CEO, Novae
“Joining forces with Novae is a strategic milestone for our company and for the dealers who have trusted us for so many years. Aluma and Novae share the same values: to continually grow our people and maintain ease of doing business for our partners. We’re customer-centric, quality-minded companies, which makes this a natural fit.”
Mike Lloyd, CEO, Aluma Trailers
