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Universal Trailer sells Cargo Group Division

7/23/2018

BRISTOL, Ind., (July 23, 2018) – Universal Trailer Corp. (UTC) today announced that it is selling its Cargo Group Division (UTCCG) made up of the Haulmark, Wells Cargo, and UltraLav trailer brands to American Cargo Group, Inc. a new Indiana corporation, which is owned by the Kaufman Trailers organization headquarted in Lexington, NC, for an undisclosed amount. Universal Trailer Corp. will continue to own and operate the other UTC brands in their portfolio including Haulmark Motorcoach, Exiss, Featherlite, and Sooner aluminum trailers.

"I am very pleased with this transaction as I believe we have transitioned the company, its well known brands, its employees, and its dealers to excellent hands," said Gary DiCamillo, the CEO of Universal Trailer Corporation.

Ali E. Wambold, Chairman of the Board UTC, commented, "We acquired Haulmark in 2002 and Wells Cargo in 2009 and helped them navigate through some of the most tumultuous times in the industry’s history. We believe UTC’s Cargo Group Division has the best brands, dealer network and employees in the business, and within the American Cargo Group they will be part of an entrepreneurial, dynamic and financially secure enterprise that is committed to growing the business over the long term. American Cargo Group is the right partner for UTCCG, and now is the right time for UTC to move on to the next chapter in the company’s exciting future, focused on its leading horse, livestock and specialty trailer business under the Featherlite, Exiss and Sooner brands and its high-end RV business, Haulmark Motorcoach.”

American Cargo Group CEO Tom Lilly states, "This acquisition represents an exceptional and significant opportunity to enhance the growth of American Cargo Group and advance the company's strategic focus in enclosed cargo trailer business. Haulmark and Wells Cargo are brands that I have admired for many years while working in the industry. We value the longstanding success and brand recognition of Haulmark and Wells Cargo and are committed to providing their team of dedicated employees the resources they need to continue and expand upon the success they have built over the past sixty years. This investment also illustrates our confidence in the future of the cargo trailer industry. The cargo trailer industry has slowly but steadily rebounded from the last recession and is now poised for substantial growth. We intend to leverage our product innovation, operational experience, and expanded manufacturing footprint to support out dealer partners and focus on their long term success.

American Cargo Group President Gary Mackelprang adds; "Both Haulmark and Wells Cargo are pioneers in the cargo trailer industry and have a long history of integrity, quality, and innovation. I’m excited to continue this tradition and help lead these great brands into the next stage of their growth."

American Cargo Group's corporate office will be in Elkhart, Indiana. The existing senior management team will continue to help lead the business.

Highlights:

  • The Definitive Purchase Agreement was executed and effective on July 20, 2018.
  • UTCCG has a lineup of innovative products across multiple product categories.
  • UTCCG's enclosed equipment, motorsports, concession, mobile restroom and high-end custom units are respected throughout the industry.
  • UTCCG comprises several well-known brands. Wells Cargo trailers pioneered the cargo trailer industry when they opened their doors in 1954. Haulmark trailers was the number one selling enclosed trailer brand in the United States for many years in succession.
  • UltraLav, another UTCCG brand, manufactures mobile restroom and shower trailers for the rental industry and other industrial applications.
  • The transaction is a positive, strategic addition to the Kaufman Trailers organization, which has manufacturing plants in Lexington, NC, Denton, NC, Beaver City, NE and Bennettsville, SC. Kaufman Trailers also owns Appalachian Trailers with facilities in Salem, OH and Manheim, PA. You can visit the company at www.kaufmantrailers.com.
  • UTCCG has a total of five manufacturing facilities; Bristol, IN, Elkhart, IN, McAdoo, PA, Waco, TX, and Ogden, UT, which are included in the acquisition.

 


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