Former, current USA Truck execs acquire TL carrier from DSV

Group 1 - USA Truck, a truckload carrier based in Arkansas, has been acquired by a group of its current and former leaders from Danish freight forwarder DSV, with financial terms undisclosed [1] - The acquisition group includes current CEO George Henry, former CFO Zachary King, and former CEO James Reed, who will serve in an advisory role [2] - The acquisition was made under an Arkansas-based entity called UTAC, LLC, allowing USA Truck to have more flexibility for growth as a privately owned company [3] Group 2 - George Henry expressed gratitude to DSV for their support during the acquisition process, highlighting the operational knowledge gained from DSV and DB Schenker [4] - DSV had previously acquired USA Truck for $435 million in 2022 but decided to sell it as the asset-based operation did not align with its asset-light business model [4] - USA Truck underwent a turnaround after operating at a loss during the 2019 freight recession and early pandemic, improving asset utilization by reducing its fleet by 10% [4] Group 3 - The company returned to profitability in the latter half of 2020, achieving an 87% adjusted operating ratio in its TL segment in Q1 2022, prior to the acquisition announcement [5] - USA Truck reduced its debt leverage from over 4 times adjusted EBITDA to 1.7 times [5] - The company currently operates a fleet of 1,800 trucks and 6,000 trailers, along with a comprehensive logistics offering [5]