Former and current executives of USA Truck purchase TL carrier from DSV

USA Truck Returns to Domestic Ownership

USA Truck, a truckload carrier headquartered in Arkansas, has been purchased by a team made up of its present and past executives, who acquired the company from Danish logistics giant DSV.

The financial details of the deal, finalized last Friday, have not been made public.

The new ownership group features current CEO George Henry and former CFO Zachary King. Henry will remain at the helm as CEO, while King will resume his role as acting CFO. James Reed, who previously served as CEO of USA Truck, is also involved and will provide guidance as an advisor.

Reed currently serves as chairman of Kodiak AI, a company focused on autonomous trucking, and is an operating partner at Banner Capital, a private equity firm.

The acquisition was completed through UTAC, LLC, an Arkansas-based entity. By returning to private, U.S.-based ownership, USA Truck gains greater flexibility to pursue future growth opportunities.

“I want to sincerely thank DSV for their commitment since acquiring DB Schenker and for their steadfast support throughout this transition,” Henry stated in a press release. “The expertise and global supply chain experience we gained from working with two of the world’s top freight forwarders will remain integral to our operations.”

DSV revealed in October that it was seeking a buyer for USA Truck, which it had acquired as part of its purchase of DB Schenker. DSV explained that USA Truck’s asset-heavy business model did not align with its primarily asset-light strategy. (DB Schenker had previously bought USA Truck for $435 million in 2022.)

The acquisition by Schenker marked a significant turnaround for USA Truck. The company had faced losses during the 2019 freight downturn and the early stages of the pandemic. By reducing its fleet by 10%, USA Truck improved asset utilization and lessened its dependence on the spot market.

By the latter half of 2020, USA Truck had returned to profitability. In the first quarter of 2022—the last reported period before the sale—the truckload segment achieved an 87% adjusted operating ratio. The company also managed to lower its debt leverage from over four times adjusted EBITDA to 1.7 times.

Today, USA Truck operates a fleet of 1,800 trucks and 6,000 trailers, and offers a comprehensive suite of logistics services. “To our outstanding employees and loyal customers, who have stood by us throughout this journey, I am deeply grateful,” Henry added. “Welcome home, USA Truck!”