DB Schenker says it and USA Truck, a capacity solutions provider have announced an agreement under which DB Schenker will obtain all USA Truck’s outstanding common stock for $31.72 per share.
It notes this will be in cash and values the USA Truck transaction at approximately $435 million, including assumed cash and debt.
“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,” Jochen Thewes, Chief Executive Officer of DB Schenker, says.
“In our 150th anniversary year, we are pleased to welcome one of the leading trucking and logistics providers to DB Schenker,” he adds. “Together we will enhance our shared value proposition and invest in exciting growth opportunities and sustainable logistics solutions for new and existing clients.”
DB Schenker says the combination with USA Truck advances their shared vision to become the premier North American transportation solutions provider.
Upon completion of the transaction, DB Schenker says it aims to strengthen and expand USA Truck’s presence in North America, while utilising its complementary international logistics expertise, air transport services, and ocean gateways to benefit USA Truck’s existing customer base.
“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,” James Reed, President and Chief Executive Officer of USA Truck, says.
“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 realise our long-term vision to become the premier North American transportation solutions provider,” he adds.
USA Truck was founded in 1983 and provides comprehensive capacity solutions to a diverse North American customer base, including more than 20 per cent of the FORTUNE 100.
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