Truck parking firms Truck Park Management of Little Rock and TRUX of Atlanta are merging to create what the companies called the largest truck parking management business in the U.S.
The combined company, known as TRUX Parking, will be headquartered in Little Rock and employ about 10 people, a company spokesperson said.
Terms of the transaction were not disclosed.
TRUX Parking aims to address a shortage of secure and reliable parking in the trucking industry. With more than 3.5 million truck drivers on the road, the American Transportation Research Institute reports only one parking space per 11 drivers. The shortage forces drivers to park in unsafe locations, increases operational costs and contributes to driver fatigue.
In a news release, TRUX Parking said the merger will allow it to rapidly expand. It plans to acquire and operate high-demand parking locations across the country and optimize site operations with amenities such as bright lighting, secure fencing, electric gate access, well-maintained bathrooms, dumpsters and security cameras. Some TRUX Parking locations have an on-site truck repair shop.
The company’s goal is to develop and open as many as 300 parking lots in the next five years. Its website lists active lots in Georgia, Texas, Mississippi, Idaho, Oklahoma and Ohio, with waitlists for two lots in North Carolina and Utah.
The Little Rock company was founded in 2023. In September, it launched Trucklots, an app and software that allows drivers and fleets to make parking reservations for easier check-ins and check-outs at parking lots. The company in October announced a $15 million investment from FoxDen Capital of Little Rock.
The combined company will be led by CEO Danny Loe, a former executive with ArcBest. Board members include James Reed, head of logistics for Walmart and former CEO of USA Truck. Stephen LaFrance, founder and former CEO of USA Drug Stores and founder of Tempus Realty Partners of Little Rock; and Shaleen Devgun, executive vice president and chief innovation officer at Schneider.
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