USA Truck Closes On CCC Acquisition
November 08, 1999
USA Truck, Van Buren, AR, has closed its previously announced acquisition of most of the assets of Carco Carrier Corp., headquartered in neighboring Fort Smith, AR.
The acquisition of nearly 500 tractors and more than 1,100 dry van trailers means a 43% increase in USA Truck's tractor fleet. USA operated approximately 1,150 tractors and 2,266 dry van trailers before the closing.
USA Truck has also assumed Carco's rights under three leases for dedicated shop and fuel facilities.
Several months ago, USA Truck announced the formation of a corporate development department to focus on dedicated fleets, private fleet conversions and acquisitions. Carco, operating at CCC Express, had made major inroads into the dedicated area on its own. About 20% of its revenue was generated by dedicated contracts in 1998.