Brightstar Capital Partners, a private equity firm focused on partnering with families, founders, entrepreneurs and management teams, has acquired Novae Corp. Novae’s founder and president will remain in leadership positions and retain ownership stakes.
Novae is a fast-growing trailer manufacturer operating six distinct brands including Sure-Trac, H&H Trailers, CAM Superline, Trailerman, ITI Cargo and Midsota. The firm has 1,100 employees across 15 manufacturing facilities with a dealer network of over 500 partners.
“The demand for professional trailers has been growing at an increasing rate, and Novae is well-positioned to capture this growth as one of the fastest-growing and customer-centric companies in the industry,” said Reidar Brekke, partner at Brightstar. “The Novae team’s operational expertise, strong character and consistent work ethic embody the type of companies and management teams we invest in.”
“We are confident that, with Brightstar’s support, Novae will remain committed to our core principles as we achieve continued success,” added Chris Storie, Novae president and COO.
Fredrikson & 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 & Reath LPP is acting as legal advisor to Novae Corp. with Fifth Third Securities, Inc. acting as exclusive financial advisor.