–An Indiana manufacturer is acquiring Bancroft based Aluma trailer in an effort to strengthen their portfolio of industry-leading brands.
The deal was announced this week by Novae, a company based in the northeast Indiana town of Markle.
In a company press release, Novae CEO Manish Bhandari says “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”.
The release from Novae indicates that Aluma will continue to be led by CEO Mike Lloyd and the current management team in Bancroft. In the release for Novae, Lloyd stated “Joining forces with Novae is a strategic milestone for our company and for the dealers who have trusted us for so many years”.
Novae was founded in 1995 and has over 1,000 employees at more than 20 manufacturing facilities across the country.
Founded in 1992, Aluma currently employs approximately 175 workers at facilities in Bancroft and Emmetsburg.
