Finished vehicle logistics provider United Road has acquired Team Drive-Away, a non-asset based commercial vehicle logistics provider specializing in moving used and new heavy-haul Class 8 trucks for sellers and buyers.
Team Drive-Away handles 20,000 vehicles each year through its network of more than 500 independent contractors. With the acquisition of TDA, United Road expects to move a total of over 4 million new, used and specialty vehicles in 2019.
Financial details of the transaction were not disclosed.
“TDA is a customer-driven business that brings new heavy haul capabilities to United Road,” said Mark Anderson, president and chief executive officer of United Road. “Its asset-light business model of partnering with trusted independent contractors combined with our geographic territories will bring new opportunities and new customers to our combined enterprise.”
TDA’s non-asset based business model means neither TDA nor its independent contracted drivers own or lease any trucks. Transporting heavy equipment such as trucks, utility vehicles, or fire trucks is a specialty business and Class 8 heavy haul vehicles weigh 33,000 pounds or more. TDA’s contractors transport loads as singles, multi-level platform decks or tow-behind booms.
Headquartered in Romulus, Michigan, United Road provides finished vehicle transport and logistics services from 90 locations throughout the U.S. and Canada. Combined, United Road and Team Drive-Away serve a broad range of customers, including manufacturers, resellers, commercial fleets, municipalities, rental agencies, dealers, auctions, web-based logistics firms and individuals.