Brightstar-Backed Novae Acquires Look Trailers
MARKLE, IN, April 12, 2022 – Novae LLC (“Novae”), one of the fastest-growing trailer manufacturers in North America and a portfolio company of Brightstar Capital Partners, today announced that it has acquired LOOK Trailers (“LOOK”), the largest manufacturer of cargo trailers in the U.S. LOOK will continue to operate its six manufacturing facilities and expansive dealer network as a division of Novae. LOOK Founder and CEO Matt Arnold will serve as Chief Innovation Officer of Novae. Financial terms of the private transaction were not disclosed.
Founded in 2010 and based in Middlebury, IN, LOOK is a family-owned manufacturer of standard and custom-built enclosed trailers, which are sold through an extensive US and Canada-based dealer network. Its products are primarily focused on serving the cargo trailer market, with applications including general hauling, auto, contracting and mobile workspaces. The LOOK family of brands includes LOOK Trailers, Cargo Express Trailers, Formula Trailers, Impact Trailers, Pace American Trailers, Compass Trailers and Everlite Trailers.
“By joining forces, LOOK and Novae will make great strides toward our goal of creating the best North American trailer company,” said Chris Storie, Chief Operating Officer of Novae. “Matt Arnold and the great LOOK team have created a company that is highly regarded in the industry for exceptional quality and service. Together, we will have more than 1,800 employees, 22 manufacturing facilities, and an active dealer network of approximately 1,100 partners, providing a strong foundation to expand our geographic reach and product range.”
Matt Arnold, Chief Executive Officer of LOOK, noted, “We know the Novae team well, and have tremendous respect for their leadership position in our industry. With a shared vision and values, a passion for quality products and service, and the increased resources and scale provided by our combination, I am confident that we can grow together.”
About Novae LLC
Headquartered in Markle, IN, Novae is one of the fastest-growing and well-respected trailer manufacturers in North America, operating seven distinct brands including Sure-Trac, H&H Trailers, CAM Superline, Trailerman, ITI Cargo, Midsota and Mirage. Novae has grown both organically and through acquisitions to become the second largest trailer manufacturer in North America. Novae currently has more than 1,800 employees, 22 manufacturing facilities and maintains an active dealer network of more than 1,100 partners. In December 2021, Novae was acquired by Brightstar Capital Partners in partnership with the Company’s co-founder and senior management team. For more information, please visit https://www.novaecorp.com.
About LOOK Trailers
LOOK Trailers, headquartered in Middlebury, Indiana, is a family-owned manufacturer of standard and custom-built trailers, mostly for cargo use, sold through its US- and Canada-based dealer network. Since its founding in 2010, LOOK has become the largest enclosed trailer seller, through a focus on building enduring partnerships with dealers and creating products that offer outstanding value, features and service. The company has six manufacturing facilities in Indiana (2), Pennsylvania, Texas, Utah, and Arizona.
About Brightstar Capital Partners
Brightstar Capital Partners is a middle market private equity firm focused on investing closely held family, founder or entrepreneur-owned businesses where Brightstar believes it can drive significant value with respect to the management, operations and strategic direction of the business. Brightstar employs an operationally intensive “Us & Us” approach that leverages its extensive experience and relationship network to help companies reach their full potential. For more information, please visit www.brightstarcp.com.