Featherlite Trailers Acquired from Universal Trailer Corp.
Featherlite, along with Exiss and Sooner trailer brands have been acquired from Universal Trailer Corporation (UTC) by a newly formed corporation, owned by Tim Masud and Howard Palmer.
Masud will serve as CEO and has experience as an advisor, dealership owner and investor in the trailer industry. The definitive agreement for this purchase was executed on Dec. 31, 2019.
As the new CEO and ownership partner of the Exiss, Featherlite and Sooner brands, Masud states, “I am extremely excited about the opportunity to own three iconic brands in the industry that I’ve known and respected throughout my career. Each brand brings something different to the table, and each has served the trailer industry well for many years.
“The Featherlite brand has an amazing history as the first aluminum horse and livestock trailer brand and has been a driving force in multiple trailer segments for more than 40 years.”
The UTC manufacturing plants in Oklahoma and Iowa are also being acquired as a part of this transaction. Exiss, Featherlite and Sooner trailers will continue to be produced in these plants and will be sold through the established independent network of dealerships that are currently in place.
You can learn more about the Exiss, Featherlite and Sooner brands at www.exiss.com, www.fthr.com, www.featherlitespecialty.com and www.soonertrailers.com.