DB Schenker Finalizes Acquisition of USA Truck; CEO James Reed to Depart

DB Schenker Finalizes Acquisition of USA Truck; CEO James Reed to Depart
James Reed, CEO of USA Truck (Corey S. Krasko)

USA Truck Inc. of Van Buren is no longer an independent company after German global logistics giant DB Schenker’s $435 million purchase was finalized Thursday.

USA Truck will become a division of DB Schenker and be delisted from NASDAQ. USA Truck’s board of directors announced June 23 that it had accepted DB Schenker’s offer of $31.72 per share and assumption of company debt. Shareholders voted 6.4 million to 10,311 to approve the deal Monday.

CEO James Reed told Arkansas Business that he would leave the company after the deal’s completion and the transition period was over. According to a filing with the U.S. Securities & Exchange Commission, Reed will receive more than $7.7 million in “golden parachute” compensation.

Reed was named USA Truck’s CEO in January 2017 after serving as CFO for two months; he was the company’s fourth CEO since 2015.

“We are happy to complete this transaction,” Reed said. “I want to extend my appreciation to the USA Truck family of employees, our board, and everyone associated with our company. We have worked together for a long time to put the company in position to deliver significant value for USA Truck’s stockholders.”

Under Reed’s leadership, USA Truck’s fiscal revenue increased from $446.5 million in 2017 to more than $710 million in 2021. USA Truck reported four consecutive profitable years, including $12.2 million in 2018 and $24.8 million in 2021.

DB Schenker, which had announced its plans to establish a trucking and logistics presence in the United States, contacted USA Truck in September 2021 about acquiring the company.

USA Truck was founded by former ArcBest executive Bob Powell in 1983.

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