This is/was being discussed in another thread:
http://classracer.com/classforum/showthread.php?t=35357
Basically, Look Trailers bought the name rights and such while the rest of the auctions are for much of Pace's equipment, hardware, etc. I spoke to a Look rep at the PRI show where they had one Pace Trailer. But basically they will continue as 2 seperate entities while reviving Pace and improving on the line.
It sounds like a good business/marketing move because of the recognition of the Pace name. They have a ways to go as Pace will be almost literally "rising from the ashes" and it's still in the very early stages. But they plan to bring it back even better than before.