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    Home » Blog » DB Schenker buys majority stake in USA Truck
    News Trucking

    DB Schenker buys majority stake in USA Truck

    $31.72 in cash per share offered, 117% over closing price
    RoosterBy RoosterJune 24, 2022No Comments3 Mins Read
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    USA Truck Sold
    USA Truck Inc. is having their shares purchased by DB Schenker for 117% over the Thursday close. - Image: Jim Allen | FreightWaves
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    There is big news this morning out of Germany and Arkansas as DB Schenker, one of the world’s largest logistics providers, announced it was buying all outstanding shares of USA Truck, Inc. (NASDAQ: USAK) The price tag is $435 million, both for assumed cash and debt,  with DB Schenker offering $31.72 per share. That’s 117% over the June 23 closing price of $14.58 per share.

    USA Truck’s Board of Directors have approved the purchase, leaving a soon-to-be-announced shareholder meeting and other paperwork left to finalize the transaction. Both parties believe the sale will be complete by the end of 2022, when USA Truck will become a private company and delist from the NASDAQ Global Select Market.

    U.S.A. Truck Capacity Solutions is a very reputable trucking fleet based out of Van Buren, Arkansas. – Image: Jim Allen | FreightWaves

    USA Truck speaks out on being purchased

    USA Truck Inc. was founded in 1983 and is headquartered in Van Buren, Arkansas. It handles comprehensive freight solutions for over 20% of the Fortune 100. Its fleet consists of 3,175 power units operated by 1,823 drivers, according to its SAFER web page.

    “We are thrilled to have found a partner that appreciates USA Truck’s rich history, is closely aligned with our mission and values, and brings additional resources that we believe enable us to build on our nearly 40-year legacy of industry leadership. 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, President and Chief Executive Officer of USA Truck

    DB Schenker is a global powerhouse

    DB Schenker, operating its truck fleet in the U.S. as Schenker, Inc., is a global leader in logistics. The company is celebrating its 150th anniversary this year. The Schenker U.S. fleet, per their SAFER web page, consists of 139 trucks and 215 drivers. 

    “USA Truck is the perfect match for DB Schenker’s strategic ambition to expand our network in North America and foster our position as a leading global logistics provider. In our 150th anniversary year, we are pleased to welcome one of the leading trucking and logistics providers to DB Schenker. Together we will enhance our shared value proposition and invest in exciting growth opportunities and sustainable logistics solutions for new and existing clients.”

    – Jochen Thewes, CEO of DB Schenker

    DB Schenker, a subsidiary of Deutsche Bahn, has more than 76,000 employees at more than 1,850 locations in over 130 countries. The company operates land, air, and ocean transportation services, and it also offers comprehensive solutions for logistics and global supply chain management. In the Americas, DB Schenker is one of the largest integrated logistics service providers with more than 10,000 employees in 123 locations providing over 27 million square feet of distribution operations.

    Eric Kulisch, FreightWaves’ Air Cargo Editor, has posted an article with additional details about the stock purchase. 


    Read more by Rooster and follow me here!

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    Rooster
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    Rooster is a 15 year trucking veteran, farm boy, writer, and adventurer. I bring a mix of absolute chaos and down to Earth reasoning to the table. Known to be a little eccentric and have a dire need to get his point across. Beware of flying "Giga-Chugs" and lab coats!!!

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