Universal Trailer Corp. (UTC) 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 headquartered in Lexington, N.C. Terms of the acquisition were not disclosed.
According to a press release, 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.
UTCCG has a total of five manufacturing facilities located in Bristol, Ind., Elkhart, Ind., McAdoo, Pa., Waco, Texas, and Ogden, Utah, which are included in the acquisition.
“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, CEO of Universal Trailer Corp.
UTC Chairman noted 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. 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 stated, “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.
“This investment also illustrates our confidence in the future of the cargo trailer industry, which 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.”