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The former USA Truck Inc. of Van Buren is back on the market three years after it was acquired by German logistics giant DB Schenker.
DSV A/S of Denmark announced Thursday morning that it’s selling the subsidiary after it acquired DB Schenker for $16 billion earlier this year. DB Schenker had bought USA Truck for $435 million in 2022 as it sought to establish a trucking foothold in the United States.
USA Truck was delisted from Nasdaq after the DB Schenker acquisition and was officially known as US Land Transport Solutions under the DB Schenker umbrella. The subsidiary is led by George Henry, who had been USA Truck’s chief operating officer.
“For more than four decades, USA Truck has stood on a foundation built by dedicated people and enduring relationships,” Henry said. “While change is a part of growth, our commitment to each other and to the customers we serve remains steadfast. I’m deeply grateful for the strength, loyalty, and professionalism that define this team and am excited to see this team deploy their experiences to take our customers, suppliers and fellow team members forward.”
DSV said USA Truck was not an “optimal fit” for its asset-light logistics model. It will continue to run USA Truck until a new owner takes over.
“We want to sincerely thank the team at USA Truck for their professional approach and collaboration,” said Rene Harboe, CEO of DSV’s Americas Road division. “The relationships we’ve built remain strong and grounded in mutual respect. 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 as both organizations as we move forward.”
USA Truck was founded in 1983 by former ArcBest executive Bob Powell and went public in 1992. It was a stable regional performer until the Great Recession of 2009 and CEO turnover that saw the company have five leaders between 2013 and 2017, during which time the company had to fight off a hostile takeover bid by Knight Transportation of Phoenix.
James Reed, who took control in 2017, managed to stabilize the company, leading it to four consecutive profitable years. That attracted the attention of DB Schenker, who initiated acquisition talks with Reed and the USA Truck board of directors in 2021.
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