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SEARCHUSA Truck has returned to private, U.S.-based ownership after a leadership-led acquisition from DSV, bringing the Arkansas-based carrier back under executive control.
USA Truck went through a string of leadership changes between 2015 and 2017, restructuring in 2016 amid earnings losses. It was struggling before the pandemic and operating at a loss during the 2019 freight recession, but had made a significant turnaround by the time D.B. Schenker bought it in 2022.
Credit: USA Truck
A company set up by current and former USA Truck leadership has bought the Arkansas-based trucking company from DSV and brought it back under private ownership.
Last year, Danish freight forwarder DSV said it was looking for buyers for the Van Buren, Arkansas-based trucking company after DSV bought German logistics provider D.B. Schenker. Schenker had purchased USA Truck in 2022 in an effort to expand its U.S. trucking footprint. However, DSV had different priorities.
On January 9, USA Truck’s new owners, UTAC LLC, announced that USA Truck was starting “a new chapter rooted in its 40-plus-year legacy and home state origins.”
The principles of UTAC are three former and current USA Truck executives:
George Henry: Current and ongoing CEO, Henry will remain actively engaged in the daily leadership of the business. He has been with USA Truck since 2018 and previously was an executive for Knight Transportation and Transplace.
Zachary King: Former USA Truck CFO. King will support the transition of the business as acting CFO.
James Reed, Former USA Truck CEO and chairman, Reed will support Henry and the business in an advisory capacity. Since leaving USA Truck in 2022, he has worked as COO of Kodiak Robotics, vice president of transportation for Walmart, and is currently an operating partner and senior advisor for Banner Capital Management, a board member of Loram Maintenance of Way, and director of Truck Park Management.
The new owners are embracing the theme, “USA Truck: Back and Built to Last.”
“The company is positioned for long-term growth with strong leadership continuity, operational flexibility, and a renewed commitment to customers, employees, and partners,” the company said in a news release.
“We are excited to have USA Truck return to U.S.-based ownership in the great state of Arkansas, where our legacy first laid out roots,” Henry said. "The extensive knowledge and global supply chain insights gained under two of the world's leading freight forwarders are now a permanent part of our operational DNA.
“We will continue the four-decade legacy built by our founder, a U.S. Naval aviator, now fortified by unparalleled global expertise and market solidification. Welcome home, USA Truck!”
Founded in 1983, USA Truck operates 1,800 trucks, 6,000 trailers and has an expansive logistics offering.
DSV said in a release, “USA Truck will be well-positioned for future growth under the new ownership, where its business model and legacy strengths can be fully leveraged."
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