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UTC announces completion of equity capital raising
2/5/2008
For Immediate Release
Contact: Tom Frey, CEO
513/671-3880
Universal Trailer Corporation announces completion of $45 million equity capital raising from Corporate Partners II, a Lazard Alternative Investments fund
CINCINNATI, Ohio/February 5, 2008—Universal Trailer Corporation (“UTC” or the “Company”), the nation’s largest specialty trailer company, has announced the completion (effective February 1, 2008) of a $45 million equity capital raising from Corporate Partners II, a Lazard Alternative Investments fund. The Company is using the proceeds from Corporate Partners II’s investment to strengthen its balance sheet and to pursue its growth initiatives. Corporate Partners II is now the Company’s largest shareholder.
The announcement was made by UTC President and CEO Tom Frey.
“Corporate Partners II’s investment in UTC enhances the Company’s balance sheet and allows us to continue to build our brands, support our distribution partners, and consider future acquisitions,” Frey said. “We are pleased to strengthen the largest specialty trailer manufacturer in the industry and to work with Corporate Partners II to expand our lead. This relationship significantly increases the opportunity for UTC to reach its full potential.”
Paul Zepf, Managing Principal of Corporate Partners II, said: “We are excited to have the opportunity to make this supportive investment in UTC, with its leading stable of companies. We look forward to working with the Company’s experienced and talented management team.”
ABOUT CORPORATE PARTNERS II
Corporate Partners II is a private equity fund targeting significant investments in established public and private companies. Corporate Partners invests in solutions® by providing equity and equity-related capital to support companies where there is a value-added use of proceeds such as a strategic acquisition, the pursuit of a growth initiative, strengthening the balance sheet, increasing shareholder stability and other important corporate needs. Corporate Partners is a business unit of Lazard Alternative Investments. For more information on Corporate Partners, go to www.corporatepartnersllc.com.
ABOUT UNIVERSAL TRAILER CORPORATION
UTC is the largest specialty trailer manufacturer in North America. The Company manufactures a wide selection of cargo, horse, livestock, motorsports, snowmobile, ATV, motorcycle, utility, vending and custom specialty trailers. Its brands—Haulmark, Haulmark Motorcoach, Featherlite, Exiss, Sooner and Miley are “Signposts on the Road to Value.” UTC has nine manufacturing operations across the United States.
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