Universal Trailer will sell its Cargo Group Division (UTCCG) made up of the Haulmark, Wells Cargo, and UltraLav trailer brands to American Cargo Group, a new Indiana corporation, which is owned by the Kaufman Trailers organization headquarted in Lexington, N.C.
The amount was undisclosed.
Universal Trailer 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.
“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,” said Ali E. Wambold, chairman of the board at UTC. “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 Groups corporate office will be in Elkhart, Indiana. The existing senior management team will continue to help lead the business.
The definitive purchase agreement was executed and effective on July 20.
