USA Truck : DB Schenker Completes Purchase of USA Truck

Company News

09-15-2022

via DB Schenker Blog (NowThatsLogistics.com)

In June, when we announced our intent to acquire USA Truck, we received great excitement from customers and the press. The opportunity to expand our offering with an asset-based land transport network is undeniably attractive. It is something we have looked at many times in the past.

Today we are delighted to share that we have completed the acquisition of USA Truck (NASDAQ: USAK), a leading capacity solutions provider. DB Schenker acquired all outstanding USA Truck common stock shares for $31.72 per share in cash. The transaction values USA Truck at approximately $435 million, including assumed cash and debt. At this time, USA Truck will become a private company and delist from NASDAQ Global Select Market.

Jochen Thewes, Chief Executive Officer, DB Schenker, said, "We are very excited to grow our North America operations in terms of both market share and geographical footprint. This is part of a bold ambition that we will become - together - the premier North American transportation solutions provider."

Joe Jaska, Executive Vice President, Land Transport for the Americas Region, DB Schenker, will take immediate responsibility for the expanded Land Transport services DB Schenker offers in the USA. He said, "I have been a strong believer that our teams would fit together perfectly from the first conversation I had with USA Truck because we are so closely aligned with our mission and values. USA Truck's success has been driven by their impressive employees - all of whom are critical to our future growth - and we are delighted to be welcoming them as an integral part of our team."

Founded in 1983, USA Truck has provided comprehensive capacity solutions to a diverse North American customer base, including more than 20% of the Fortune 100. USA Truck has a 1,900-unit fleet of trucks, 2,100 employees, partnerships with more than 36,000 active contract carriers, and a strategic network of terminals across the Eastern half of the United States. All of which will immediately provide capacity solutions to meet the evolving demands of both regional and national DB Schenker customers.

Today, DB Schenker in the United States has over 9,000 employees - in over 40 locations and 55 logistics centers, and over 21 million sq. ft. of distribution operations.