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Brightstar Capital Partners Closes Acquisition of Trailer Manufacturer Novae Corp.

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MANews-(C)2009-2021

US-based private equity firm Brightstar Capital Partners has completed its acquisition of US-based trailer manufacturer Novae Corp, in partnership with the company's founder and senior management team, the firm said.

Novae Founder and CEO Steve Bermes, and president and COO Chris Storie will continue to lead the company and retain significant ownership stakes.

The signing of the transaction's definitive agreement was previously announced on December 15.

Headquartered in Markle, Indiana, Novae is a trailer manufacturer in North America, operating six distinct brands including Sure-Trac, H and H Trailers, CAM Superline, Trailerman, ITI Cargo and Midsota.

Novae has grown both organically and through acquisitions to become the second largest trailer manufacturer in North America.

Novae currently has more than 1,100 employees, 15 manufacturing facilities and maintains an active dealer network of more than 500 partners.

Fredrikson and Byron, P.A. is acting as legal advisor to Brightstar with Jefferies LLC, Keybanc Capital Markets, Inc., and Nomura Securities International, Inc., acting as financial advisors.

Faegre Drinker Biddle and Reath LPP is acting as legal advisor to Novae Corp. with...

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