The Great Dane Limited Partnership bid for the two remaining trailer manufacturing plants of Trailmobile Trailer LLC has been accepted.
The U S Bankruptcy Court in Chicago approved the purchase May 30. Great Dane has offered $10 million for the two plants, their equipment, and inventory. The court approved the Great Dane bid after the waiting period for higher offers expired.
The two companies have two weeks to close the sale.
“It is just a very difficult time to sell a trailer plant,” said Trailmobile’s Bruce Black. “We are pleased with the Great Dane offer and were impressed with their professionalism and fairness during this process.”
Tom Czapka, vice-president of business development for Great Dane, said his company will make a public statement about the transaction once the deal is finalized.
When complete, it will be the second major plant acquisition that Great Dane has made during the current downturn in the trailer industry. In January the company officially announced that it had acquired Strick’s Danville PA and Abbeville SC plants.
Although the two Trailmobile Trailer LLC plants have been sold, Trailmobile Trailer Canada Ltd will continue to produce trailers under the Trailmobile name. Trailmobile Parts and Service Corp in Erlanger KY continues to serve the aftermarket.