USA Truck returned to private Arkansas-based ownership structure
USA Truck has returned being a privately run fleet with Arkansas-based ownership, which the company says marks a new chapter in its more than 40-year history.
DSV has agreed to sell the entire company to UTAC, LLC, a private entity based in Arkansas, reminiscent of it its roots. The deal closed Jan. 9.
The new ownership group includes three principals: George Henry, current and ongoing CEO; Zachary King, former USA Truck CFO who will serve as acting CFO through the transition; and James Reed, former USA Truck CEO who will serve in an advisory capacity.
“The extensive knowledge and global supply chain insights gained under two of the world’s leading freight forwarders are now a permanent part of our operational DNA. 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 release.
“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.”
The new ownership structure will allow the company to operate with greater speed, flexibility and focus, the company said.
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