Pace American Inc. — a manufacturer of enclosed motorsport, cargo and specialty trailers — announced that it has officially completed its acquisition of Bristol, Ind.-based J&L Cargo Express. Terms were not released.
“With this acquisition, we are continuing to further our ongoing strategy to strengthen and grow Pace American’s industry-leading market share position,” says Mitchell Bender, chief executive officer of Bannockburn, Ill.-based Pace American. “Like our other brands, Cargo Express has long been recognized for its superior product quality, comprehensive selection and exemplary customer service, so needless to say, we’re very pleased to welcome them to our family.”
In addition to retaining its own independent brand identity, Cargo Express’ existing dealer network and staff will remain unchanged. The brand also will continue to be managed by Cargo Express President and General Manager Lyle Miller to ensure a smooth, uninterrupted flow of product to the marketplace.
Pace American President Jack Cordan says that although the United States is preoccupied with the current economic conditions, his company is in a stronger financial position than ever. “We’ve steadily built this company, which is privately owned, over the past two decades and have now completed our first acquisition,” Cordan says. “To me, this speaks volumes about our level of confidence in our products, people and business plan for the future.”
According to Miller, Pace American truly represented the best fit for Cargo Express. “Having watched my company grow over the past 15 years, it was personally important to both me and my family that we sold it to a purchaser that shared our values,” he says. “We’ve respected Pace American as our largest competitor from the beginning, and I am proud to know that they will carry on the quality and integrity that have been the foundation of Cargo Express’ success.”