Sun Capital Partners has acquired substantially all of the assets of Pace American, a Chicago-based manufacturer of enclosed cargo and utility trailers to the U.S. and Canadian market. No financial terms were disclosed for the deal, which was transacted via an Article 9 auction.
Sun Capital Partners, Inc., a leading private investment firm specializing in leveraged buyouts and investments in market–leading companies, today announced that an affiliate has acquired substantially all of the assets of Pace American through an ARTICLE 9 auction. The company, a leading manufacturer of enclosed cargo and utility trailers to the U.S. and Canadian market, will continue to operate under its recognized brand, Pace American. Terms of the transaction were not disclosed.
Founded in 1986 and headquartered in Chicago, Illinois, Pace American operates five manufacturing facilities, located in Georgia, Utah, Texas, Indiana, and Oregon. The Company has the most complete product line in the industry and manufactures high quality products across various market segments. Its trailers are some of the most recognized brand names and are used by a wide range of recreational and commercial customers, particularly in the racing market. Sold through a large network of dealers and mass-merchants, Pace American trailers can be custom designed to fulfill virtually any need.
“We are pleased to work with Sun Capital Partners in executing our plan to rebuild Pace American into the market leading business it has historically been,” said James Tennant, Chief Executive Officer, Pace American. “We believe our company will greatly benefit from Sun’s operating and industry expertise spanning over 15 years, and look forward to partnering with Sun’s team on the tasks that lay ahead. In coming months, our focus will be on strengthening the company’s operations to ensure that our customers continue to be well served with attractively priced, premium quality products.”
“Pace American has a tremendous reputation in the marketplace for premium quality enclosed cargo and auto trailers,” said Peter Y. Lee, Vice President at Sun Capital Partners. “We view this transaction as an attractive opportunity to work with the entire Pace American team to build upon the company’s operational capabilities and its relationships with both new and existing customers and dealers. We look forward to a successful partnership with the company and upholding the tradition of high quality trailers to our customers.”
Lincoln International LLC served as the company’s financial advisor on the transaction.
About Pace American
Founded in 1986 and headquartered in Chicago, Illinois, Pace American is a leading national supplier of enclosed trailers to the U.S. and Canadian market. The Company operates five manufacturing facilities throughout North America, located in Georgia, Utah, Texas, Indiana, and Oregon. Pace American sells its products through a large dealer network and the mass-merchant channel. Its high quality products serve a wide variety of customers in the general cargo, motorsports, landscaping, tradesmen, vending, concession, and global marketing industries.
For more information, please visit www.paceamerican.com.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in–house operating professionals and experience. Sun Capital affiliates have invested in more than 225 companies worldwide with combined sales in excess of $40 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen. For more information, please visit www.SunCapPart.com.