Novae adds Iowa-based Aluma to growing portfolio

Multi-brand trailer manufacturer Novae has acquired Aluma Trailers, a deal designed to further strengthen its portfolio distributed through dealer partners. 

The union aligns with Novae’s strategy for sustained growth and innovation in a rapidly evolving industry.

“This partnership reinforces our long-term commitment to offer high-quality trailers and equipment for our dealers and customers,” said Novae CEO Manish Bhandari. “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.” 

Since its founding in 1992, Aluma has established itself as an industry leader in aluminum trailers and is now poised to further strengthen its open product line and expand its offering of enclosed cargo trailers and truck bodies, the news release stated.

“Joining forces with Novae is a strategic milestone for our company and for the dealers who have trusted us for so many years,” said Mike Lloyd, CEO of Aluma Trailers since 2000. “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.” 

Aluma will continue to be led by Mike Lloyd and the current management team, headquartered in Bancroft, IA.

This strategic move aims to expand Novae’s product portfolio, strengthen its manufacturing capabilities, provide new opportunities for its dealer partners, and solidify its leadership position in steel and aluminum trailers and truck bodies for continued long-term success.