Bain to buy American Trailer Works

Bain Capital has agreed to buy American Trailer Works from Southlake Equity Group. Financial terms weren’t announced. Southlake, Texas-based American Trailer Works makes and distributes utility and cargo trailers. Bain said it plans to merge American Trailer Works with Big Tex Trailers, which it acquired in December. Goldman Sachs and Barclays provided debt financing. BMO Capital Markets, Goldman Sachs and Barclays acted as financial advisors, Kirkland & Ellis LLP served as legal counsel, and PricewaterhouseCoopers LLP served as accounting advisor to Bain Capital.

PRESS RELEASE

SOUTHLAKE, TX & BOSTON, MA –†January 4, 2016 –†Bain Capital Private Equity, one of the

worlds foremost private investment firms, today announced it has reached a definitive

agreement to acquire American Trailer Works, a leading manufacturer of utility and cargo

trailers. The company is being acquired from an investor group managed by Southlake Equity

Group. Financial terms of the private transaction were not disclosed.

Headquartered in Southlake, Texas, American Trailer Works is a leading manufacturer and

distributor of utility and cargo trailers in North America. Through its 12 plants, American Trailer

Works sells trailers through independent dealers and national retailers under the PJ Trailers,

Carry-On Trailer, RC Trailers and other private-label brand names.

Bain Capital plans to merge American Trailer Works with Big Tex Trailers, a leading

manufacturer of utility trailers in North America, to create a newly-formed company. Bain Capital

closed its acquisition of Big Tex in December 2015.

“Uniting these two companies will create an exceptional array of products and services, and the

best and most supportive partner for dealers,said Todd Cook, a Managing Director at Bain

Capital. We are committed to supporting management in growing the trailer businesses of both

American Trailer Works and Big Tex through world-class customer service, operational

efficiency, and continued product innovation.

Goldman Sachs and Barclays provided debt financing commitments for the Big Tex and ATW

transaction. BMO Capital Markets, Goldman Sachs and Barclays acted as financial advisors,

Kirkland & Ellis LLP served as legal counsel, and PricewaterhouseCoopers LLP served as

accounting advisor to Bain Capital.

The planned merger is subject to customary regulatory review.

About American Trailer Works

Headquartered in Southlake, TX, American Trailer Works is a leading manufacturer and

distributor of utility and cargo trailers in North America. Through its 12 plants, American Trailer

Works sells trailers through independent dealers and national retailers under the PJ Trailers,

Carry-On Trailer, RC Trailers, Middlebury Trailers and other private-label brand names. More

information about the company is available at http://www.americantrailerworks.com.

About Bain Capital Private Equity

Bain Capital (www.baincapital.com) is one of the worlds foremost private investment firms, with

approximately $75 billion under management across several asset classes including private

equity, venture capital, public equity and credit products. Founded in 1984, Bain Capitals more

than 400 professionals are collectively the single largest investor in all of its funds and are

dedicated to investing in and building its portfolio companies. Bain Capital Private Equity has

deep experience in industrial manufacturing and distribution, with investments in companies

including Big Tex Trailers, TI Automotive, Sensata Technologies, FTE Automotive, Trinseo SA,

ASIMCO and Hero MotoCorp Ltd. Bain Capital has offices in Boston, New York, Chicago, San

Francisco, Palo Alto, London, Munich, Dublin, Luxembourg, Tokyo, Shanghai, Hong Kong,

Mumbai and Melbourne.