Cincinnati, OH (Dec. 9, 2011) – Universal Trailer Corporation (www.universaltrailer.com), the nation’s largest trailer manufacturer, announced that it has entered into a new five-year revolving credit facility with Wells Fargo Bank. Following the financing, Universal Trailer (UTC) will have approximately $5 million of total debt providing ample financial flexibility to build on its double digit growth in 2011.
The agreement provides UTC with “the financial flexibility necessary to execute the Company’s long-term strategic plan to develop innovative new products and further support our growing dealer network and community of customers,” said Terry Carlson, CEO of Universal Trailer.
“We are excited to enter into this agreement with Wells Fargo and look forward to a long term relationship,” Carlson said. “This gives UTC the right capital structure to achieve continued growth and profitability.”
In addition to their extensive line of consumer trailers, UTC brands further advanced their work in the medical, communications, sports, marketing and other specialty industries in 2011. A fleet of medical and support trailers were delivered for a client in South America and a massive emergency relief trailer was completed for one of the world’s leading charitable organizations. Other projects were recently completed for BAE Systems, Daktronics, United States Marines, NASCAR, Nike Golf and Polaris Racing, among others.
About Universal Trailer Corporation
Headquartered in Cincinnati, Ohio, Universal Trailer Corporation (www.universaltrailer.com) is the largest trailer manufacturer in the U.S. with leading brand names, a national manufacturing footprint and the largest North American trailer dealer network. The Company manufactures for the enclosed cargo, horse, livestock, motorsports, snowmobile, ATV, motorcycle, utility, vending and custom specialty trailer categories. The Company markets through a network of over 1,000 dealers under internationally recognized brands such as Featherlite, Exiss, Sooner, Haulmark, Wells Cargo and Miley.