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An interview with Universal Trailer Investor and Board Member Paul Zepf

CINCINNATI, Ohio/May 30, 2008

In February 2008, Universal Trailer Corporation President and CEO Tom Frey announced that Corporate Partners II [CP] had invested $45 million in newly issued equity of Universal Trailer Corporation [UTC], thereby becoming UTC’s largest shareholder. UTC is the largest specialty trailer manufacturer in North America. The Company manufactures a wide selection of trailer and motorcoach products. Its brands are Haulmark, Haulmark Motorcoach, Featherlite, Exiss, Sooner and Miley. Paul Zepf, a Managing Principal of CP, talks about his firm’s recent investment in UTC. Mark Wicks of GateHouse Media Inc. is the interviewer. Below is a summary of Paul Zepf’s remarks (edited for clarity).

GateHouse Media: How do you view Corporate Partners II’s [CP] relatively new status as majority shareholder of Universal Trailer Corporation [UTC]?

Paul Zepf: After its first hundred days as UTC’s largest shareholder, Corporate Partners II has seen a unique strength emerge through the alliance of a large investment firm and the leading American specialty trailer company. From a number of perspectives, including capital resources, having an investment fund the size of Corporate Partners’ in support of Universal Trailer is unique in the industry.

GateHouse Media: What attracted CP to an investment in this trailer company?

Paul Zepf: We were attracted to UTC based on the strength of the company’s products and management, and its leading market positions.

GateHouse Media: The overall economy being what it is, how has UTC performed?

Paul Zepf: Despite a difficult economy and high commodity prices since we first made our investment, UTC is performing in‐line with our expectations, largely the result of the steps management has taken to adjust to the current environment.

GateHouse Media: What stands out since CP entered into the relationship?

Paul Zepf: In the past four months UTC has showcased new product innovations at each of four dealer conventions, launched national retail promotions and brought greater efficiencies to its manufacturing facilities in seven states.

GateHouse Media: How does CP function managerially with UTC?

Paul Zepf: We made the investment in UTC to support the company and the management teams at each of the [divisions]. We bring to the table substantial capital resources and management counsel, and provide assistance in strategic development, both internally and through potential acquisitions. Going forward, these additional resources should position Universal Trailer well ahead of others in the competitive marketplace.

GateHouse Media: What do you see looking forward?

Paul Zepf: The first four months held few surprises. We did a lot of work and spent months researching the industry and Universal Trailer Corporation before investing. From this effort, I believe we developed a good understanding of the industry, the market environment and each of the UTC subsidiaries. The current market is challenging and metal prices have spiked upwards, but UTC management has made adjustments to operate profitably in this environment. Corporate Partners II expects to continue to work with UTC to build on its existing strengths. This relationship can effect higher performance in the current environment as well as in the coming upturn. Our efforts will continue to enhance our important relationships with our distribution partners and end customers.

ABOUT CORPORATE PARTNERS

Corporate Partners is a leading private equity group targeting significant investments in established public and private companies. In 2005, Corporate Partners closed its most recent fund, CP II, with capital commitments of $1.1 billion. Corporate Partners Invests in Solutions® by providing equity and equity‐related capital to support companies where there is a value‐added use of proceeds such as a strategic acquisition, the pursuit of a growth initiative, strengthening the balance sheet, increasing shareholder stability and other important corporate needs. Corporate Partners is a business unit of Lazard Alternative Investments. For more information on Corporate Partners, go to www.corporatepartnersllc.com.


Featherlite introduces 2009 ‘PerfectFit’ Living Quarters with striking new décor selections plus other enhancements

CRESCO, Iowa/May 8, 2008 — Featherlite® Trailers continues to transform the traveling and buying experience of horse owners with the introduction of striking new 2009 décor options now available through the popular PerfectFit™ System. Plus, Featherlite has expanded its options with recent enhancements to its entire horse trailer line.

PerfectFit Living Quarters
The PerfectFit System is a new process that allows the horse trailer to be designed around the horse owner and their horses, without the custom price. Previously featured only on select living quarters models, it is now available on Featherlite’s entire line of horse and livestock trailers.

Along with the introduction of the expanded PerfectFit System, Featherlite has many new décor options available. In 2007, Featherlite first partnered with Sierra Custom Interiors to produce Featherlite’s entire line of living quarters interiors, which continues today.

Among its new options is an expanded selection of cabinet woods including Aged Paulownia (dark oak), Farmyard Hickory, Moving Walnut and Trinity Oak, in addition to the traditional choices. There is something for everyone in the 2009 assortment of fabric selections for seating or valances including extra this year, a medley of upgraded exotic leather seating options, featuring a number of animal patterns.

Standard flooring is linoleum, which in 2009 models features more stone walk qualities. Upgrades to ceramic or hardwood are available.

In addition to cabinets, flooring, seating and valances, major selections for new living quarters customers are wall covering, ceiling and countertops. After designing the “look and feel” of their interior, the customer will move on to other amenities such as entertainment options. A popular entertainment choice for many living quarters owners recently has been the stereo with DVD and surround sound and optional XM satellite radio. Other popular options include an electric fireplace, electric awning with wind sensor and remote control and the dishwashing drawer option. A new option for 2009 models is a retractable screen door that is more desired by some living quarters owners.

“The PerfectFit System makes the selection process of interior options and floor plans much easier for customers when they meet with their local Featherlite dealer to order their living quarters,” Featherlite National Sales Manager Randy Lewis said. As always, if a customer doesn’t want to go through the selection process, dealers have a range of living quarters inventory on their sales lots for customers to select from.

With the new PerfectFit, customers will see the consolidation of Featherlite’s living quarters models down to one model with more options, the Model 8581. “Our previous model offering was larger and more complicated, but each of the models was more limited in its selections,” Lewis said. “The PerfectFit System puts the focus more on the configuration, layout and functionality of the trailer. The customer ends up getting more choices and superior value.”

The process begins with the customer selecting their required number of horse stalls, the short wall length and the width of the trailer. Then dealers will let customers pick from a wide array of interior floor plans and the major décor options before focusing more narrowly on specific features and options. This continues until the trailer meets their exact requirements.

New options
Horse owners have exciting new options when configuring their Featherlite horse trailer including a redesigned swing out saddle rack and polished ‘Wave’ side panels. New Medalist Series options include dramatically distinctive frameless windows and heavier duty feed doors.

Enhancements made to Featherlite’s standard features include a new rubber hold down that more securely holds the feed door in place when in the down position during hauling. In addition, Featherlite’s ‘Wave’ side panels were enhanced to include a new trim that further completes the distinctive look of these sleek aluminum side panels.

“Styling and convenience were the focal points for the new options and features selected for our 2009 models,” Lewis said.

For more information on the 2009 models available now, see a Featherlite dealer or call 800-800-1230 for a brochure or go to the Featherlite website at www.fthr.com/tnews.
 

Featherlite ‘PerfectFit’ Living Quarters with striking new décor selections
reshapes trailer buying experience
 

CRESCO, Iowa/April 10, 2008 — Featherlite® Trailers continues to transform the traveling and buying experience of horse owners with the introduction of striking new décor options now available through the popular PerfectFit™ System.

The PerfectFit System is a new process that allows the horse trailer to be designed around the horse owner and their horses, without the custom price. Previously featured only on select living quarters models, it is now available on Featherlite’s entire line of horse and livestock trailers.

Along with the introduction of the expanded PerfectFit System, Featherlite has many new décor options available. In 2007, Featherlite first partnered with Sierra Custom Interiors to produce Featherlite’s entire line of living quarters interiors, which continues today.

Among its new options is an expanded selection of cabinet woods including Aged Paulownia (dark oak), Farmyard Hickory, Moving Walnut and Trinity Oak, in addition to the traditional choices. A new assortment of fabric selections for seating or valances is also available, but extra this year is a medley of upgraded exotic leather seating options, including a number of animal patterns.

Standard flooring is linoleum, which in 2008 features more stone walk qualities. Upgrades to ceramic or hardwood are available.

In addition to cabinets, flooring, seating and valances, major selections for new living quarters customers are wall covering, ceiling and countertops. After designing the “look and feel” of their interior, the customer will move on to other amenities such as entertainment options. A popular entertainment choice for many living quarters owners recently has been the stereo with DVD and surround sound and optional XM satellite radio. Other popular options include an electric fireplace, electric awning with wind sensor and remote control and the dishwashing drawer option.

“The PerfectFit System makes the selection process of interior options and floor plans much easier for customers when they meet with their local Featherlite dealer to order their living quarters,” Featherlite National Sales Manager Randy Lewis said. As always, if a customer doesn’t want to go through the selection process, dealers have a range of living quarters inventory on their sales lots for customers to select from.

With the new PerfectFit, customers will see the consolidation of Featherlite’s living quarters models down to one model, the Model 8581. “Our previous model offering was larger and more complicated, but each of the models was more limited in its selections,” Lewis said. “The PerfectFit System puts the focus more on the configuration, layout and functionality of the trailer. The customer ends up getting more choices and superior value.”

The process begins with the customer selecting their required number of horse stalls, the short wall length and the width of the trailer. Then dealers will let customers pick from a wide array of interior floor plans and the major décor options before focusing more narrowly on specific features and options. This continues until the trailer meets their exact requirements.

For more information, see a Featherlite dealer or call 800-800-1230 for a  free brochure or go to the Featherlite website at www.fthr.com/tnews

Featherlite introduces versatile new combination trailer
CRESCO, Iowa (October 31, 2007) – With its versatility, Featherlite’s new Model 8409 combination trailer is a great option for horse owners, livestock owners and hobby farmers. A bumper pull, Model 8409 is available in 16-foot and 20-foot lengths and is designed for hauling both cattle and horses.

It features a full swing rear door with lockable slider, 4-foot dressing room and a skid resistant aluminum floor. It’s available with an optional slant wall, air spacing and tack package, among many other options. Like all Featherlite livestock and horse trailers, the Model 8409 comes with Featherlite’s sleek new “Wave’ side panels.

For more information on Featherlite Model 8409, call Featherlite at 800-800-1230, visit your local dealer or go to the web at www.fthr.com/tnews .

Featherlite New ‘PerfectFit™ System’ Matches Customer to ‘Perfect’ Horse Trailer at a Lower Price

CRESCO, Iowa (Oct. 12, 2007) – Owning a horse trailer that is designed around the particular, detailed needs of the customer has never been easier, thanks to a streamlined new system unveiled today by Featherlite Trailers. Deemed the “PerfectFit™” System, it takes the customer through an easy 7-step process that culminates in a “perfect trailer match” for them and their horses.

“I guess you’d say we’re in the matchmaking business,” Featherlite National Sales Manager Randy Lewis says with a smile. “Every horse trailer customer has a different idea what they want in their trailer because each horse owner is unique in their own way. They know their horses have individual requirements, too. So we adapted our system to create the “perfect” horse trailer for each individual

“The beauty of the new Featherlite ‘PerfectFit’ is that the customer can get a trailer customized to them but doesn’t have to pay a custom price.”

The PerfectFit System is available on all Featherlite enclosed horse trailers including 9-ft. living quarters and under.

Featherlite dealers also have many horse trailer models in stock on their sales lots. The PerfectFit System allows them to more accurately pre-order popular models with the most wanted accessories.

To focus on the horse trailer model that is best for them, each customer can go down a list of seven questions with their dealer. “Do you want a gooseneck or bumper pull” is the first, followed by questions on load type, stall size, number of horses, preferred width and height and size of dressing room. From there the customer can select from an almost unlimited array of features and options.

“Featherlite trailers come with a lot of superior features standard—including patented slam latch dividers for security, Light-Flo feed doors for better ventilation, striking new “Wave” panels, L.E.D. lights for style and visibility and now dynamic wraparound rear lights, to name a few,” Lewis said. “Beyond those, many horse trailer customers want more choices so their trailer becomes unique to them. Featherlite is pleased to offer a selection unmatched by any other horse trailer manufacturer.”

Featherlite is the nation’s oldest aluminum specialty trailer brand. Its aluminum uni-body construction is known for extraordinary towing ease, extreme durability with only routine maintenance, continuing innovation and advanced safety features that help protect animals during transport.

For more information, see a Featherlite dealer, call 800-800-1230 or check the Featherlite website at www.fthr.com/tnews .


Working harder to provide continuing innovation.
Featherlite has unveiled wraparound rear lights as standard equipment on its horse trailers along with a simpler, easier way to order trailers based on detailed customer preferences. This innovative new process is called the Featherlite ‘PerfectFit’ System.

Featherlite NPNI Program

Now through September 29, 2007, customers can receive 7 Months No Payments, 6 Months No Interest (NPNI) on new 2007 and prior model year Featherlite trailers at participating Featherlite dealers. Down payment may be required. Not available with any other offer. Available to qualified buyers, subject to approval by GE Money. Offer good until Sept. 29, 2007. Some restrictions apply. See your local Featherlite dealer for more details. Call 800-800-1230 for your nearest Featherlite dealer.

Featherlite unveils striking enhancements to its horse trailers and living quarters
Introduction includes new Featherlite/Sierra Interiors Collection & ‘wave’ side panels

CRESCO, Iowa - Transforming its entire horse trailer product line, Featherlite is excited to announce the beginning of a new partnership with Sierra Custom Interiors and to introduce its new ‘wave’ side panels on horse trailers. With the new partnership, Sierra will produce Featherlite’s entire line of standard and standard with options living quarters, while the new side panels notably alter the exterior look of the Featherlite horse trailer.

“This is the largest product development announcement ever at Featherlite,” Randy Lewis, Featherlite national sales manager, said. “The new exterior of the Featherlite gives a fresh, sleek appearance to the already distinctive, premium look of Featherlite. Mix the new side panels and other innovations with the new Featherlite/Sierra Interiors Collection, and we feel we’ve given horse owners every reason to choose Featherlite.”

‘Wave’ Featherlites
The new models are being called the ‘wave’ Featherlites because of the sleek undulating design of the new side panels now standard on all Featherlite horse trailers with aluminum side panels. The new sides are modeled after the panels on the Featherlite Medalist Series introduced last year. “The new sides create a striking and even more eye-catching Featherlite horse trailer,” Lewis said. “No matter where it goes this new Featherlite will turn heads.”

Featherlite/Sierra Interiors Collection
The new Featherlite/Sierra Interiors Collection is the result of a new partnership between Featherlite and Sierra Custom Interiors. Sierra, of Elkhart, Indiana, will produce Featherlite’s entire line of standard and standard with options living quarters trailers.

“The Featherlite/Sierra Interiors offer our customers unbelievable décor selections, including thousands of options and many new standard features,” Lewis said. “Plus, they’ll benefit from the remarkable craftsmanship that comes with each Sierra interior.” The Featherlite/Sierra Interiors Collection will feature an array of eight décor packages or customers can choose from options for a more customized interior.

More great features
In other product news, all Featherlite trailers are now equipped with sharper looking L.E.D. lights that enhance visibility when traveling down the road. Plus, two additional stop/turn L.E.D. lights are now standard on horse trailers.

Additional Information
The new Featherlites are arriving at local Featherlite dealers now. For more information on the new Featherlites, call Featherlite at 800-800-1230 for a free catalog, see your local dealer or visit www.fthr.com/tnews .

New Featherlite living quarters model expands trailer choices for horse owners in more ways than one

CRESCO, IAWhether horse owners need a place to relax during a day-long horse show or are traveling for weeks at a time with their horses, Featherlite offers them many horse trailer choices, including the exciting new Model 8562.

Featherlite horse trailer Model 8562 includes a well-appointed 12’ living quarters with a slideout that creates a lot more living space. In the slideout is a dinette, but customers have the option of a goucho sofa instead. The smooth flowing design of the living quarters includes a kitchenette with a cooktop stove, microwave, sink and refrigerator. The trailer also includes a restroom with a neo-angled shower and a bed in the gooseneck.

Model 8562 is available in a 3 and 4-horse version. It also includes Light Flo drop down feed doors, 3/4” deep cushion floor mats, a low maintenance enclosed wiring harness and noise-reducing rubber coated tie rings. The 8562 comes with aluminum corrugations and is also available with smooth skin (Model 9662) or stainless steel corrugations (Model 9962).

Featherlite unveils new ‘super durable’ 2007 SURVs designed for avid outdoor enthusiasts

It’s a traveling ‘home on the range’ with new features and garage

CRESCO, Iowa / July 17, 2006 – Outdoor activities – from riding ATVs, motorcycles and dirt bikes to maneuvering dune buggies to hunting and fishing – continue to grow in popularity. With that growing popularity are people’s desires to travel to their recreational activities for days at a time and still feel at home. Featherlite’s Sport Utility Recreational Vehicles (SURV), including its new 2007 models, features and options, continue to offer that luxury to outdoor enthusiasts.   

Featherlite, the leading manufacturer of NASCAR race car transporters, has built its legendary hauling capacity and impressive durability into every SURV model.

Featherlite’s new SURV for 2007 is Model 7925. A bumper pull, the 7925 is 28-feet long and includes a cargo wall, which creates a 10 ½-feet length in the garage and cargo area. “The cargo wall allows for a separate area from the living quarters for hauling and storing ATVs, motorcycles, dirt bikes, dune buggies, off-road vehicles or outdoor equipment,” Featherlite National Sales Manager Randy Lewis said. “It means a neater, cleaner, more efficient space all around.”

New Model 7925 comes with a standard goucho sofa and dinette in the living quarters portion, in addition to a refrigerator, cooktop stove, restroom with shower and toilet, vanity with sink, closets, colorful graphics and more.

In addition to the new Model 7925, Featherlite’s SURV product line includes Models 7924 and 7943. Model 7943 is available in 24, 28 and 32-feet lengths plus the length of the gooseneck. New for 2007, the 28 and 32-feet lengths, are available with the “garage wall package” that creates the cargo wall that separates the garage and living area. Model 7943, as well as Model 7924, each include two fold-down benches, a refrigerator, cooktop stove, restroom with shower and toilet, vanity with sink, cabinets and an optional pull down queen bed in the rear. The 7943 also includes a bed in the gooseneck.

New standard features now available on all Featherlite SURVs include cargo netting that is above all overhead cabinets in SURVs with the cargo wall, which allows for additional interior storage space. Also standard is Featherlite Gripstar rear ramp lining that is designed to grip the tires of the recreational vehicle for a smooth, slip-resistant entry into and out of the garage area. The SURVs also come with a 100-gallon fresh water tank, a porch light and lighted grab handle at the entrance of the living quarters, a new sliding shower stall door, a wall mounted thermostat and six tie downs per trailer for securing cargo.

“In addition to hauling motorized recreational vehicles, Featherlite SURV trailers are perfect for hunters, fishermen, rock climbers and other outdoor enthusiasts for hauling all their outdoor gear while on trips away from home,” Lewis said.

Many new options are available with Featherlite SURV trailers including 110-volt flat screen TVs, electric double queen beds, a portable exterior grill, 20 gallon fueling station and exterior speakers. Featherlite SURVs come with a standard Route 66 décor package, but SURV owners can also choose from Featherlite’s Red Glory, Simulated Pine and Simulated Oak décor packages.

Featherlite has been building all-aluminum trailers since 1973 for hauling cars, ATVs, snowmobiles, motorcycles, horses and more. Featherlite also manufactures race car transporters for leading professional race car teams and is the official trailer of NASCAR.

“Unlike some toy haulers that are made of steel, fiberglass or wood, Featherlite’s SURV trailers are manufactured with premium, corrosion-resistant aluminum that is lighter, more durable and easier to tow,” Lewis said. “Featherlite’s construction allows for heavier load capacity and more years on the road. In addition, Featherlite SURVs have a lower floor height that makes loading motorized recreational vehicles and equipment easier.”
Featherlite unveils Medalist Series with advanced styling and inventive features
Featherlite Medalist available on over 85 horse trailer models

CRESCO, Iowa / May 15, 2006 – Inspired by horse owners who yearn for a horse trailer built ‘their way’, Featherlite, Inc., the nation’s oldest specialty aluminum trailer brand, has unveiled its Featherlite Medalist Series. Featherlite’s new generation of aluminum horse trailers offer a unique blend of advanced styling and inventive features customized to the specific needs of horse owners and their horses.

 “Featherlite has incorporated many new innovative features into the Featherlite Medalist that creates a stunning trailer, both inside and out,” Randy Lewis, Featherlite national sales manager, said. “The Featherlite Medalist Series was truly designed and built for discerning horse owners.” The Featherlite Medalist is available on over 85 models in bumper pull, gooseneck and living quarters platforms.

The Medalist Series helps redefine horse transportation through advanced features found in the horse area. Those unique features include L.E.D. strip lighting that lines the ceiling on both sides of the horse area. This strip lighting, combined with white aluminum lined and insulated ceiling and walls, offers a lighter, more comfortable horse area for loading and traveling. Another safety feature in the horse area are Featherlite “safety guard” cushioned stall pads. In addition to the horse area, the dressing room includes upscale interior L.E.D. strip lighting.

A range of external innovations also add to the distinctive style of the Medalist Series. They include polished cast corner caps, a three-dimensional aluminum feather on the front of the trailer, radius rear frame with wraparound lights, L.E.D lights and a sturdy .063 aluminum skin. Some models feature aluminum or stainless steel corrugations that run the entire length of the trailer from the drop to the rear.

The Featherlite Medalist features chrome glass windows and feed doors that help reflect light and heat from the horse area and add to the enhanced appearance. Other features include internal rear door hardware, heavy-duty camper doors and an extended gooseneck length for more space and storage.

A unique option available on the Medalist Series is an electric saddle rack that extends down and out from the trailer with the push of a button, making it easer to maneuver the saddles. Other options include Featherlite 06 series aluminum wheels and a stainless steel s-drop enclosure on the gooseneck models.

For more information on the Featherlite Medalist Series, call Featherlite at 800-800-1230 for a free catalog, see your local dealer or visit www.fthr.com/tnews .
Featherlite, Inc., the nation’s oldest specialty aluminum trailer brand, has unveiled its most affordable living quarters horse trailer. New Model 8946 has an external design like no other Featherlite horse trailer and is uniquely priced for entry-level living quarters buyers. More....
New Model 9415 horse trailer includes standard side ramp

Featherlite – Outfitted with a side ramp for easier unloading, the new Featherlite Model 9415 all aluminum bumper pull horse trailer was designed especially with hunters and jumpers in mind. “For horse owners who prefer to have their horses walking forward ... More...
Clinton Anderson unveils limited edition Featherlite trailer New features and enhancements offer customers convenience and style

Renowned equestrian clinician and trainer Clinton Anderson was in attendance at the Featherlite International Dealer Meeting this spring to unveil the Clinton Anderson Downunder Edition of Featherlite Model 9406. The new special features were personally selected by Anderson and include an array of... More...

Featherlite Trailers begins partnership with Clinton Anderson Downunder Horsemanship. CRESCO, Iowa / March 7, 2005 – Featherlite®, Inc., a leading horse trailer manufacturer, is pleased to announce a new joint venture with renowned equestrian trainer and clinician Clinton Anderson. More Details...

By launching their new mobile exhibit and display, Wahl Clipper Corporation continues to reach out to the public.  The 48 ft. mobile exhibit trailer, designed and built by Featherlite Trailers, will be traveling the country attending a variety of state fairs and trade shows including a number of Clinton Anderson’s Wahl Walkabout Clinics. More..

 

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