Current, Former Executives Buy USA Truck From DSV
DSV Sells Truckload Carrier Acquired in DB Schenker Deal
Key Takeaways:
- The deal marks the third time since 2022 that USA Truck has been subject to an ownership change.
- Denmark’s DSV acquired USA Truck in September 2024 when it bought DB Schenker for $15.9 billion.
- DSV said the carrier’s business model did not fit its vision for asset-light North American on-road operations.
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A group of three current and former executives bought USA Truck from Denmark-based DSV for an undisclosed sum Jan. 9, the carrier said.
DSV also confirmed the deal Jan. 9. The deal marks the third time since 2022 that USA Truck has been subject to an ownership change.
The Van Buren, Ark.-based truckload carrier will now be owned by UTAC, a private entity based in the state in which it was founded.
USA Truck ranks No. 76 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. It ranks No. 23 among truckload/dedicated carriers. USA Truck’s activities are focused east of the Mississippi.
Denmark’s DSV acquired USA Truck in September 2024 when it bought DB Schenker for $15.9 billion. The DB Schenker deal closed in April.
DSV said in October it was actively working on selling off USA Truck as the carrier’s business model did not fit its vision for asset-light North American on-road operations.
DSV said in October it was actively working on selling off USA Truck. (Luke MacGregor/Bloomberg)
UTAC is controlled by George Henry, Zachary King and James Reed.
Henry is the current USA Truck CEO and will continue to hold that position. He joined USA Truck in March 2018 after previously working for the then-Knight Transportation and Transplace.
King is a former USA Truck chief financial officer and will be acting CFO going forward. King is currently president and CEO at Florida-based brokerage and third-party logistics provider Riteway Logistics.
Reed is a former USA Truck CEO and currently chairman of Kodiak Robotics. He is also operating partner at Utah-based Banner Capital Management.
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The three executives aim to ensure continuity, stability and disciplined growth at USA Truck, the carrier said.
“I want to start by expressing my sincere gratitude to DSV for their engagement since the acquisition of DB Schenker and unwavering support throughout this process. 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,” said Henry.
“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 added. “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. To our phenomenal employees and customers, who have been steadfast partners throughout this journey, I am eternally indebted. Welcome home, USA Truck!”
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Looking forward, the carrier will operate under the mantra: USA Truck: Back and Built to Last.
USA Truck operates 1,800 tractors and 6,000 trailers while owning nine service centers and five regional logistics centers.
DSV ranks No. 11 on the TT Top 100 list of the largest logistics companies in North America and No. 15 among global freight carriers.
Schenker ranks No. 26 on the logistics TT Top 100. Acquiring Schenker made DSV the globe’s largest freight forwarder.
Schenker bought USA Truck for $435 million in June 2022.
