The Danish logistics company DSV has agreed to sell USA Truck Inc. to a three-man ownership group that includes former CEO James Reed.
Terms of the deal were not released.
Reed, George Henry and Zach King will return the company to private ownership through the group’s UTAC LLC with Reed in an advisory role. Henry, who oversaw the subsidiary for DSV, will serve as CEO and King will be CFO.
“We are excited to have USA Truck return to U.S. based ownership in the great state of Arkansas, where our legacy first laid out roots,” Henry said in a statement. “We will continue the four-decade legacy built by our founder, a U.S. Naval Aviator, now fortified by unparalleled global expertise and market solidification. To our phenomenal employees and customers, who have been steadfast partners throughout this journey, I am eternally indebted. Welcome home, USA Truck!”
Reed was CEO of USA Truck from 2017 until the German global logistics giant DB Schenker bought it for $435 million in June 2022. DSV acquired DB Schenker in 2024 and said it was not interested in retaining the trucking subsidiary.
Reed is now operating partner at Banner Capital, a private equity firm in Salt Lake City. Henry was director of the USA Truck’s logistics division, while King was CFO.
USA Truck was founded by Bob Powell in 1983 and went public as a respected regional performer in 1992. It hit rough times in the wake of the Great Recession, posting five consecutive fiscal losses from 2009 through 2013 totaling nearly $50 million.
USA Truck also had instability in the executive branch and it cycled through several CEOs before Reed took over.
“Absolutely, it’s great news for the Arkansas trucking industry,” said Shannon Newton, president of the Arkansas Trucking Association. “Having an Arkansas trucking company being privately held by Arkansans is something that we can all be proud of. It’s a good sign for the economy. It’s a good sign for the community of Van Buren because USA truck has been an important part of that community, even through the ups and downs.”
Sign up for Daily E-news
