DSV announces plan to sell USA Truck

Denmark-based DSV is seeking to sell USA Truck – once a publicly-held company based in Van Buren – as part of its integration of German-based DB Schenker. DSV acquired Schenker in a deal that closed in April.

Schenker acquired USA Truck in a $435 million deal – $31.72 a share – that closed in September 2022^[1].

Founded in 1983, USA Truck is a long-haul trucking and logistics/supply chain provider. The company when it sold to Schenker had about 1,900 trucks, 2,100 employees, and partnerships with more than 36,000 active contract carriers. The company also had a network of terminals in the eastern U.S., and a freight network in Mexico. USA Truck operations are still based out of Van Buren, and the company reports having more than 2,000 trucks and 6,500 trailers.

Schenker acquired USA Truck just as it was emerging from from a turnaround and back into an improved financial position. USA Truck posted 2021 net income of $24.768 million, more than five times 2020 net income and a record for the trucking and logistics company. Full-year revenue was $710.387 million, up 28.9% compared with 2020 revenue of $551.138 million.

In a filing posted Thursday (Oct. 23), DSV said it will focus on maintaining its “asset-light business model” as it integrates Schenker’s U.S. business.

“With the acquisition of Schenker, DSV assumed control over Schenker’s road activities in the US,” DSV noted in the filing. “Part of the activities were acquired with the intention of future resale, resulting in a portion of Schenker US Road operations being classified as a disposal group held for sale and designated as discontinued operations.”

“While USA Truck may not fully align with DSV’s asset-light business model, these connections are valuable and will continue to have a positive impact at both organizations as we move forward,” Rene Harboe, CEO Americas for DSV Road, said in a statement.

Talk Business & Politics has left messages with DSV and USA Truck to inquire about the potential impact on operations in Van Buren. This story will be updated, or another story will be posted, if a response is received.

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