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USA Truck is returning to private, Arkansas-based ownership, the Van Buren-based trucking company announced.
The sale of Danish ownership group DSV’s shares to UTAC LLC was closed on Jan. 9. UTAC is made up of current USA Truck leadership . It consists of three principals: George Henry, current and ongoing CEO, who will remain actively engaged in the daily leadership of the business as CEO; Zachary King, former USA Truck CFO, who will support the transition of the business as acting CFO; and James Reed, former USA Truck CEO, chairman of Kodiak Robotics & Loram, and operating partner at Banner Capital, who will support Henry and the business in an advisory capacity.
Kutak Rock LLP acted as legal advisor to UTAC in the transaction.
The move “reinforces USA Truck’s identity as a U.S.-based carrier with deep regional roots, strong values and a long-term commitment to customers, employees and partners,” according to a company press release. The release further indicated that the company would embrace the theme, “USA Truck: Back and Built to Last,” affirming its dedication to “operational excellence, fostering strong partnerships and driving long-term, sustainable growth.”
In a statement, Henry expressed his gratitude to DSV for its support throughout the process.
“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,” he said. “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. Welcome home, USA Truck!”
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