Recreational power sports lovers need a way to transport their motorcycles, ATVs, watercraft, snowmobiles and other toys. Hartford-based Triton Trailers LLC makes the hauling equipment to do that.
The aluminum and steel trailers made at Triton are either open bed or enclosed, and about 60 percent of its 210 models are for recreational use. The other portion is used on construction and utility worksites, said chief executive officer Daniel Rabay.
Rabay took over as CEO in March, as part of a capital investment by Milwaukee family investment firm Jacsten Holdings LLC.
President Rochelle Priesgen and her husband, vice president Tony Priesgen, have stayed on in their current positions. Rochelle’s family founded the company in 1975.
While the investment amount and the company’s annual revenue is undisclosed, Rabay said Triton saw a 4 percent dip in sales from 2011 to 2012 but expects 8 to 10 percent growth in 2013.
Since he came on board, Rabay has added 10 employees, bringing the total count to about 105. He and Jacsten have developed a five-year strategic plan, during which time they plan to expand the company’s footprint and double the annual revenue.
Because of the cost of shipping the larger trailers, the company may add satellite locations on the east and west coasts.
Rabay also plans to invest in additional manufacturing equipment over the next few years and hire additional employees to keep up with the growth.
Since March, Triton has taken on some contract work to assure its robotic manufacturing equipment doesn’t sit idle.
“We are taking on some job shop type work,” Rabay said. “That’s a great opportunity for us to level out those ebbs and flows.”
And he hired a director of sales and marketing, Jeff Goodwin, who raced snowmobiles for many years and has worked at two of the major OEMs in the industry.
“He is really well-known in the industry and really respected, and that is really going to open up doors for us going forward,” Rabay said.
Triton sells its trailers to distributors, who then provide them to power sport and trailer dealers to market to customers. It works with 10 continental U.S. distributors, three in Canada, one in Alaska and one in Mexico. There are about 1,000 active dealers who sell Triton trailers.
Trailer owners are increasingly using Triton’s products for cooking and relaxing during recreational sports trips, like snowmobiling. For that reason, the company has started adding features to the trailers like phone charging outlets, cabinets and drawers, lighting and other amenities.
As enclosed trailers get larger, it takes Triton more time to manufacture each one. As a result, Rabay plans to hire seven to 10 new employees in 2014.
Triton trailers are built to order and range in price from $1,000 to $20,000. Trailers for hauling cars, and those that have a lot of added accessories, can get into the $30,000 range, he said.
“Triton’s known for their quality,” Rabay said. “You say Triton anywhere, people just know it.”
While it is the “Cadillac of aluminum trailers,” Triton is also planning a new product, the Vault, that is meant to compete with lower priced cargo trailers on the market, Rabay said. Production will begin in January.
Some of Triton’s biggest competitors are Iowa-based Aluma in utility trailers and Maine-based Alcom LLC in enclosed trailers.
Developing the Vault led Triton to create seven new extrusions to reduce the cost of the product. The new extrusions allow for a lighter weight, easier fit and finish and faster assembly time.
“In hopes that this does prove out…this is absolutely something we will roll out to different models,” Rabay said.
The company now has more than 350 active extrusions, which are proprietary aluminum frame parts that allow the company to engineer products that weigh less and are easier to assemble.
