USA Truck to be bought by Germany’s DB Schenker
June 27, 2022
•Land Line Staff
Publicly traded USA Truck Inc. is being acquired by German logistics company DB Schenker in a deal valued at $435 million, according to a joint statement by the companies released Friday.
Essen, Germany-based DB Schenker will acquire all outstanding shares of Van Buren, Ark.-based USA Truck common stock for $31.72 per share in cash. The transaction values the company at approximately $435 million, including assumed cash and debt.
Founded in 1983, USA Truck has a fleet of 1,900 trucks. It has 2,100 employees and more than 36,000 active contract carriers. Its network of terminals spans the Eastern half of the United States.
DB Schenker said it plans to strengthen and expand its acquisition’s presence in North America. Building upon USA Truck’s existing U.S. and Mexico freight network, DB Schenker intends to expand its global logistics services across land, air, and ocean transportation services, as well as comprehensive solutions for logistics and global supply chain management.
The transaction has been unanimously approved by USA Truck’s board of directors but is subject to regulatory approval and the approval of its stockholders. Upon completion of the transaction, which the parties expect will occur by the end of 2022, USA Truck will become a private company and delist from NASDAQ Global Select Market. The transaction is not subject to any financing condition.
“This transaction provides immediate and significant value for USA Truck stockholders, offers broadened career opportunities for our employees and increased capacity and service offerings with which to support our customers, and better positions our company to realize our long-term vision to become the premier North American transportation solutions provider,” James Reed, USA Truck president and CEO, said in the news release.
DB Schenker is a wholly-owned subsidiary of Deutsche Bahn, a worldwide logistics company, which provides land, air and ocean transportation services, according to the company. It employs more than 76,000 in 130 countries. In the U.S., DB Schenker employs more than 10,000 in 123 locations. It has more than 27 million square feet of distribution operations.
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