Northborne Partners Advises Aluma Trailers on its Sale to Novae

MINNEAPOLIS, Jan. 21, 2026 /PRNewswire/ — Northborne Partners is pleased to announce that it served as the exclusive financial advisor to KLM Acquisition Corporation, dba Aluma Trailers (“Aluma”), in its sale to Novae, a portfolio company of Brightstar Capital Partners. Financial terms of the transaction were not disclosed.

Founded in 1992 and headquartered in Bancroft, IA, Aluma Trailers is a leading manufacturer of aluminum utility, recreational and commercial trailers sold through an established network of dealers across the U.S. and Canada. With a focus on lightweight aluminum construction, Aluma designs and builds trailers and truck bodies that deliver strength, durability and long-term value for dealers and end users. The Company is continually recognized for its commitment to quality, industry-best warranty and reliable service, setting the standard in the industry.

Novae provides a comprehensive portfolio of open and enclosed cargo trailers and truck bodies. The acquisition of Aluma will strengthen its portfolio of industry-leading aluminum trailer brands distributed through dealer partners.

Mike Lloyd, President of Aluma since 2000, commented, “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.”

Regarding Northborne’s involvement, Mike commented, “Northborne was an exceptional partner throughout the process. Their demonstrated expertise, support and thoughtful guidance were instrumental in achieving a successful outcome. The Northborne team’s day-to-day involvement gave us confidence throughout the transaction process that we were getting a fair deal and our interests were protected. They had our backs every step of the way.”

Paul Jevnick, Managing Director at Northborne, commented, “We’re honored to have advised Aluma on this important transaction, leveraging Northborne’s extensive experience working with family-owned businesses. It has been a privilege working with the owners and management of Aluma, and we look forward to seeing the Company’s continued success under Novae’s ownership.”

Ballard Spahr served as legal counsel to Aluma.

About Northborne Partners
Northborne Partners is a pre-eminent middle market investment banking firm focused on providing M&A advisory services to companies in the industrial, healthcare, services and food & consumer sectors, among others. It specializes in advising private-equity-owned and closely held businesses on complex sell-side transactions. Northborne Partners is headquartered in Minneapolis, MN. For more information, please visit northborne.com.

About Aluma Trailers
Founded in 1992 and headquartered in Bancroft, IA, Aluma Trailers is a leading manufacturer of aluminum utility, recreational and commercial trailers, known for its long-standing commitment to quality, durability, and dependable performance. The company emphasizes practical innovation, consistent manufacturing standards, and strong relationships across its dealer network. For more information, please visit alumaklm.com.

About Novae
Headquartered in Markle, IN, Novae is a leading trailer manufacturer in open and enclosed trailers and truck bodies in North America, operating distinct trailer brands including Sure-Trac^®, H&H Trailers^®, CAM Superline^®, Midsota^®, Pace American^®, Formula, and LOOK^®. Founded in 1995, Novae has over 1,000 employees and more than 20 manufacturing facilities. Novae maintains an active dealer network of over 1,000 partners. For more information, please visit novae.com.

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SOURCE Northborne Partners