Former and current leaders of USA Truck have acquired the truckload carrier from Danish freight forwarder DSV. The financial terms of the transaction were not disclosed. The group includes George Henry, current CEO, and Zachary King, former CFO, who will act as the acting CFO. James Reed, former USA Truck CEO, will provide advisory support.

DSV had announced in October that it was looking to sell USA Truck, which it acquired when it bought DB Schenker. The asset-based operation no longer aligned with DSV’s mostly asset-light offering. Schenker had acquired USA Truck for $435 million in 2022.

USA Truck experienced a turnaround after operating at a loss during the 2019 freight recession and early in the pandemic. The company reduced its fleet by 10%, improving asset utilization and reducing reliance on the spot market. By the second half of 2020, the carrier returned to profitability.

Currently, USA Truck operates a fleet of 1,800 trucks and 6,000 trailers, alongside an expansive logistics offering. The change to private domestic ownership under UTAC, LLC, will provide the company with additional flexibility to pursue growth opportunities. CEO George Henry expressed gratitude to DSV for their support in the transition.

Read more at Yahoo Finance: Former, current USA Truck execs acquire TL carrier from DSV