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USA Truck Secures $50M Trailer Lease From TEN
Enterprise Agreement Supports Near-Term Needs and Long-Term Growth Strategy
Key Takeaways:
- Transportation Equipment Network closed a $50 million lease Jan. 14 to supply USA Truck a long-term fleet of 53-foot dry van trailers.
- The deal supports operations and flexibility as USA Truck returns to U.S. ownership after a Jan. 9 sale by DSV to executive-led UTAC.
- The customized lease is among the first major agreements since the sale, signaling continuity and disciplined growth under CEO George Henry.
Transportation Equipment Network closed a $50 million enterprise lease agreement with USA Truck, providing a long-term trailer fleet as the carrier moves forward under new U.S.-based ownership.
The agreement — Jan. 14 by TEN — calls for TEN to deploy about $50 million into a dedicated fleet of 53-foot dry van trailers that will be placed on long-term lease with USA Truck. The lease is structured to support the carrier’s immediate operational needs while allowing flexibility as it expands its network.
The transaction follows USA Truck’s Jan. 9 sale by Denmark-based DSV to UTAC, a private entity controlled by current and former USA Truck executives. The deal marked the third ownership change for the Van Buren, Ark.-based carrier since 2022 and returned the company to U.S.-based ownership after a brief period under European control.
USA Truck CEO George Henry said speed and execution were critical as the company assessed fleet needs during the transition.
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“When time is of the essence, having a partner who truly understands your business makes all the difference,” Henry said. “TEN’s team moved quickly, listened to our needs and worked closely with us to design a structure that supports where we are today and where we are headed tomorrow.”
Henry is part of the ownership group that acquired USA Truck through UTAC and has said the new ownership is focused on continuity, stability and disciplined growth. The TEN lease represents one of the first large-scale operational agreements announced since the transaction closed.
TEN and USA Truck said the lease builds on an existing relationship between the companies. Rather than a standard trailer lease, the structure was designed collaboratively to align with USA Truck’s near-term execution requirements and longer-term strategic goals, according to the companies.
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“This agreement reflects exactly what TEN is built to do, allowing us to put our strong balance sheet, agility and scale to use to assist our customers achieve their fleet and capital goals,” said Hooman Yazhari, TEN’s CEO. “We do not approach our customers as transactional vendors. We work as strategic partners, collaborating to solve real challenges and align fleet solutions to both short-term execution and long-term business goals.”
TEN provides trailer leasing, rentals, maintenance and fleet-related services to transportation providers across North America. The company said its ability to deploy capital quickly and tailor fleet solutions was a key factor in the agreement.
USA Truck ranks No. 76 on the Transport Topics Top 100 list of the largest for-hire carriers in North America and No. 23 among truckload and dedicated carriers.
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DSV acquired USA Truck in September 2024 as part of its $15.9 billion purchase of DB Schenker but later moved to divest the carrier, saying USA Truck’s asset-based model did not align with its long-term strategy. UTAC, controlled by Henry, former USA Truck Chief Financial Officer Zachary King and former USA Truck CEO James Reed, completed the acquisition earlier this month.
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 TT100.
Generative AI assisted in the creation of this article.
