Exiss, Featherlite and Sooner brands acquired from Universal Trailer Corporation
1/8/2020
Cresco, Iowa (January 8, 2020) – The Exiss, Featherlite and Sooner brands have been acquired from Universal Trailer Corporation (UTC) by a newly formed corporation, owned by Tim Masud and Howard Palmer. Mr. Masud will serve as CEO and has more than three decades of experience and success as an advisor, dealership owner and investor in the trailer industry. The definitive agreement for this purchase was executed on December 31, 2019.
As the new CEO and ownership partner of the Exiss, Featherlite and Sooner brands, Mr. 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 innovation and creativity of the Exiss brand has been truly impressive, with a 25-year history of producing value-rich trailers to all levels of trailer buyers across multiple markets. The Sooner name is a classic in this industry, and the quality and durability of the Sooner product over the past 50 years is something that has always resonated with me.
“I’d like to thank the past customers, loyal dealerships and talented personnel at Exiss, Featherlite and Sooner for making the brands as strong as they are today. I look forward to the opportunity of building on the tradition of these brands with the help of the people and partners that we already have in place!”
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 Sooner brand at www.soonertrailers.com.
Sooner Trailer was founded in 1956 by Francis Cobb. The company didn't actually build trailers then, but the idea for constructing top quality devices for transporting animals began when someone needed a stock rack and Cobb agreed to build it for them. From these humble beginnings, Sooner Trailer grew under the ownership of the Bernhardt family of Duncan, Oklahoma to build premium quality custom aluminum trailers to meet the needs of the most discriminating and experienced buyer.
Over the years, Sooner has continued to grow its range of products to build thousands of horse and livestock trailers each year. Today, Sooner trailers are manufactured in El Reno, Oklahoma, and are distributed across the United States via approximately 90 dealers located in over 35 states and internationally via its dealerships located in 5 provinces of Canada.
In 2003, Sooner Trailer became the third member of the Universal Trailer (UTC) family of brands, the largest specialty trailer manufacturer in North America. Today, UTC produces a broad selection of cargo, horse, livestock, motor sport, snowmobile, ATV, motorcycle, concession, custom and specialty trailers. Its brands — Haulmark, Exiss, Sooner, Featherlite and Miley — are signposts on the Road to Excellence.