SAINT-GEORGES, QC – One of Canada’s largest trailer manufacturers, Manac Inc., has returned to private ownership after going public just two years ago.

It announced on Wednesday that consortium of investors, led by a holding company controlled by originally founding Dutil family, are the new owners, after a Quebec court gave approval for the deal earlier in the week and following shareholders signing off on the transaction.

A deal was announced in August in which buyers unveiled a plan to acquire all shares in the company for $10.20 per share, about a 12 percent premium over the company’s 20-day average stock price on the Toronto Stock Exchange.

The Montreal Gazette reported the group includes the Caisse, Solidarity Fund and Investissement Québec, each providing $17 million in capital and $15 million in loans, while the Fonds Manufacturier Québécois is putting up $8 million in capital. The Dutil family is committing $36 million and will have a 38percent stake in the company, while the Caisse, Solidarity Fund and Investissement Québec each will hold 18 percent and the Fonds Manufacturier 8 per cent.

Charles Dutil will remain as president and CEO, who in August referred to the deal as a “great step” for the company.

Manac was spun off from the Canam Manac Group in 2004 and taken public in 2013.

It reported revenue of $331 million and net income of $10 million in the 2014 fiscal year.

Manac offers a wide range of vans, flatbeds and specialty trailers such as dumps, low beds, grain hoppers, chassis, chip and logging trailers, all of which are sold in Canada and the U.S. under the recognized brands Manac, CPS, Peerless, Darkwing, UltraPlate, Ultravan and Liddell Canada with manufacturing facilities located in Saint-Georges, QC, Penticton, BC as well as Oran and Kennett, MO.