Look Trailers, a Bristol, IN, cargo trailer company, purchased trade names and intellectual property along with limited assets of Pace American Enterprises, Inc. These were purchased from Myron Bowling Auctioneers of Ohio, the high bidder at the Federal Bankruptcy Court Auction, Case # 11-33446 held in Chicago, IL, on Nov. 2, 2011.
The former Illinois-headquartered Pace American Trailers closed manufacturing operations at its Middlebury, IN, and four additional manufacturing locations in August 2011, resulting in a loss of more than 400 jobs nationwide.
Look Trailers, opened for business February 2010 under the leadership of Matt Arnold, president. According to Arnold, the customer-focused company is financially stable with a strong balance sheet and seasoned management team with extensive experience in the trailer industry.
Look currently produces enclosed cargo, utility and car trailers as well as custom-built trailers for specific customer needs. The Look brand and product line up will remain independent as they revive the Pace American Brand in the coming months. Arnold said, "Pace American has tremendous brand recognition that we know will be favorably received by our dealers and the retail public. We look forward to resuming production of the well-regarded Pace American and Cargo Express products as early as next month."
Because there is capacity at its satellite manufacturing sites, Look will begin manufacturing of these select Pace American products at its facilities in Fitzgerald, GA, Springville, UT, and Phoenix, AZ. Look is also partnering with the local Economic Development Corporation of Elkhart County and exploring the possibility of resumed operation of the former Pace American Trailer manufacturing facility in Middlebury, IN.
"We are a small business and we have been successful by staying close to our customers and delivering on their needs," Arnold said. "At Look Trailers, we are still focused on being the best, not the biggest, trailer manufacturer in the industry and the Pace American acquisition will help us deliver even greater value to our customers."