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German logistics service provider DB Schenker completed its previously announced acquisition of USA Truck for $435 million, it announced Sept. 15.
USA Truck will operate within the network of DB Schenker and no longer trade on the Nasdaq exchange. Its stockholders approved the transaction in a near final step to get the deal done during a special meeting Sept. 12. They received $31.72 per share in cash for each common stock share they hold.
“We are very excited to grow our North America operations in terms of both market share and geographical footprint,” DB Schenker CEO Jochen Thewes said. “This is part of a bold ambition that we will become — together — the premier North American transportation solutions provider.”
We have completed the acquisition of @USATruck_Inc: a fleet of 1,900 trucks added to DB Schenker’s capacity and 2,100 employees added to the DB Schenker family. A very warm welcome to our new colleagues. https://t.co/5AHqI41zE1 #DBSchenker #USATrucks #LandTransport— DB Schenker (@DBSchenker) September 15, 2022
DB Schenker already has a U.S. transportation network, which consists of 7,000 workers. The deal bolsters those operations with 2,100 employees and a 1,900-unit fleet.
“We are thrilled for USA Truck’s next chapter, together with a partner that appreciates our history, mission and values, and is well-positioned to support our future growth,” USA Truck Chief Operating Officer George Henry said. “We are looking forward to realizing the full potential of our combination, which is a testament to the quality of the USA Truck brand, the trusted relationships we’ve developed with customers across the country, and above all, the hard work and relentless commitment of our teams.”
USA Truck ranks No. 57 on the Transport Topics Top 100 list of the largest for-hire carriers in North America.
DB Schenker (North America) ranks No. 24 on the TT Top 100 list of the largest logistics companies in North America. — Transport Topics
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