Schenker buys American truck for $435 million in cash

DB Schenker acquires USA Truck Inc.

Signed an agreement to acquire USA Truck Inc for $435 million in cash. Producing profits of nearly $25 million on revenues of $710 million.

DB Schenker has signed an agreement to acquire USA Truck Inc for $435 million in cash

One of the world’s largest logistics companies has signed an agreement to acquire USA Truck Inc., a move that executives say sets them up for greater growth in the United States.

DB Schenker, a subsidiary of German national railways Deutsche Bahn, will pay approximately $435 million in cash for Arkansas-based USA Truck, which made a profit of nearly $25 million on revenue of $710 million last year. A year earlier, those numbers were $4.7 million and $551 million, respectively.

DB Schenker buys USA Truck and has signed an agreement to acquire USA Truck Inc for $435 million in cash

DB Schenker operates 123 distribution centers covering more than 27 million square feet in the Americas and plans to connect this air and ocean transportation and logistics network to USA Trucks’ 12 terminals.

DB Schenker operates 123 distribution centers covering over 27 million square feet in the Americas and plans to connect this air, sea and logistics network to all 12 USA Trucks terminals.

“USA Truck fits perfectly with DB Schenker’s strategic ambition to expand our network in North America,” said Jochen Thewes, Managing Director of DB Schenker. “Together, we will enhance our shared value proposition and invest in exciting growth opportunities and sustainable logistics solutions for new and existing customers.”

USA Truck, which was founded in 1983, operates a fleet of approximately 1,900 trucks and 6,000 trailers serving more than 600 customers. The carrier operates the 44th-largest rental fleet in the United States, records show. Its business is relatively evenly split between trucking, which generated $22.6 million in operating profit in 2021, and logistics ($14.7 million last year). The latter has significantly increased its turnover in 2021 to reach more than 323 million dollars. Chairman and CEO James Reed has set a goal to increase that figure to $400 million by 2024.


Grabber frame 300x250


DB Schenker buys USA Truck and has signed an agreement to acquire USA Truck Inc for $435 million in cash

The carrier operates the 44th-largest rental fleet in the United States, records show. Its business is relatively evenly split between trucking, which generated $22.6 million in operating profit in 2021

The company’s trucking operations focus on the eastern half of the United States: eight of its twelve terminals are in Georgia (four), Florida, Illinois, Ohio and Pennsylvania – and its leaders want to continue in this way.

“This transaction delivers immediate and significant value to USA Truck shareholders, provides expanded career opportunities for our employees and increased capacity and service offerings to support our customers, and better positions our company to achieve our long-term vision. to become the premier North American transportation solutions provider,” Reed said in a statement.

USA Truck shares more than doubled on June 24 to around $30.75 on buyout news. The DB Schenker deal, which is expected to close by the end of the year, provides that investors will receive $31.72 per share.

ABOUT USA TRUCK INC.

UNITED STATES Truck provides complete capacity solutions to a large and diverse customer base across North America. Our Trucking and USAT Logistics divisions combine an extensive portfolio of asset and light asset services, providing a balanced approach to supply chain management, including custom truck loading services, dedicated contract transportation , intermodal and third-party logistics freight management services. For more information, visit usa-truck.com or call 800-643-2530.

About DB Schenker

DB Schenker is the world’s leading logistics company, with more than 75,800 employees at approximately 2,000 locations around the world. DB Schenker supports industry and commerce in the global exchange of goods through land transport, global air and sea freight, contract logistics and supply chain management. For more information, visit: dbschenker.com.


ADVERTISING
ADVERTISING

About Julie Gray

Check Also

Workplace hazards lead to $326,000 fine for Illinois truck repair company

A 48-year-old worker entered a tank trailer in Lemont, Illinois to inspect it as part …