USA Truck to Join Global Logistics Provider DB Schenker
DB Schenker aims to strengthen and expand USA Truck's presence in North America. Photos: DB Schenker, USA Truck
DB Schenker, a major global logistics service provider based in Germany, is buying Arkansas-based carrier USA Truck as it continues its expansion into North America. DB Schenker will acquire all outstanding shares of USA Truck common stock for £31.72 per share in cash, or approximately £435 million, including assumed cash and debt.
DB Schenker aims to strengthen and expand USA Truck's presence in North America, while using its complementary international logistics expertise, air transport services and ocean gateways to benefit USA Truck's existing customer base. Building on USA Truck's U.S. and Mexico freight network, DB Schenker also intends to expand its global logistics services across land, air, and ocean transportation services, as well as comprehensive solutions for logistics and global supply chain management. Founded in 1983, USA Truck provides comprehensive capacity solutions to a diverse North American customer base, including more than 20% of the Fortune 100.
USA Truck's approximately 1,900-unit fleet of trucks, 2,100 employees, partnerships with more than 36,000 active contract carriers, strategic network of terminals across the Eastern half of the United States and a nationwide third-party logistics presence provides capacity solutions to meet the evolving demands of both regional and national customers. "USA Truck is the perfect match for DB Schenker's strategic ambition to expand our network in North America and foster our position as a leading global logistics provider," said Jochen Thewes, CEO of DB Schenker, in a news release. James Reed, USA Truck's president and CEO, said the company is "thrilled to have found a partner that appreciates USA Truck's rich history, is closely aligned with our mission and values, and brings additional resources that we believe enable us to build on our nearly 40-year legacy of industry leadership."
He noted that the move also provides additional career opportunities for USAT's employees, which was echoed by Joe Jaska, DB Schenker's executive vice president land transport, Americas Region: "USA Truck's success has been driven by their impressive employees -- all of whom are critical to future growth -- and we look forward to welcoming them as an integral part of our team. As part of a larger organization with DB Schenker, USA Truck employees will have access to career opportunities at both the local and global level. We view this transaction as a platform for growth and by combining these organizations, we will greatly enhance our presence in the North American land transport space."
With more than 76,000 employees at more than 1,850 locations in over 130 countries, DB Schenker operates land, air, and ocean transportation services, and it also offers comprehensive solutions for logistics and global supply chain management from a single source.
In the Americas, DB Schenker is one of the largest integrated logistics service providers with more than 10,000 employees in 123 locations providing over 27 million square feet of distribution operations to its clients.