353<\/p>\n
USA Truck is returning to private, Arkansas-based ownership, the Van Buren-based trucking company announced.<\/p>\n
The sale of Danish ownership group DSV\u2019s 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.<\/p>\n
Kutak Rock LLP acted as legal advisor to UTAC in the transaction.<\/p>\n
The move \u201creinforces USA Truck\u2019s identity as a U.S.-based carrier with deep regional roots, strong values and a long-term commitment to customers, employees and partners,\u201d according to a company press release. The release further indicated that the company would embrace the theme, \u201cUSA Truck: Back and Built to Last,\u201d affirming its dedication to \u201coperational excellence, fostering strong partnerships and driving long-term, sustainable growth.\u201d<\/p>\n
In a statement, Henry expressed his gratitude to DSV for its support throughout the process.<\/p>\n
\u201cWe are excited to have USA Truck return to U.S.-based ownership<\/a> in the great state of Arkansas, where our legacy first laid out roots,\u201d he said. \u201cWe 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!\u201d<\/p>\n