German company to buy Van Buren-based USA Truck in $435M deal

FILE — A semi-truck at the USA Truck company headquarters Wednesday, January 27, 2016, at 3200 Industrial Park Road in Van Buren. (NWA Democrat-Gazette/DAVID GOTTSCHALK)
FILE — A semi-truck at the USA Truck company headquarters Wednesday, January 27, 2016, at 3200 Industrial Park Road in Van Buren. (NWA Democrat-Gazette/DAVID GOTTSCHALK)

Van Buren-based USA Truck is being acquired by a German logistics company in a deal valued at $435 million, according to a joint statement by the companies released today.

The acquisition by DB Schenker of Essen, Germany includes the purchase of all outstanding shares of USA Truck common stock at $31.72 in cash. The value of the deal includes assumed cash and debt.

Shares of USA Truck were trading at $30.80, up $16.22 or 111% about noon on Friday afternoon on the Nasdaq. Shares have traded as low as $13.01 and as high as $31.67 over the past year.

The acquisition was unanimously approved by the USA Truck Board of Directors and is subject to regulatory approval. The companies said the intent is to take USA private after the deal is complete by the end of 2022.

“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, said in a statement.

USA Truck, a trucking and logistics company, was founded in 1983 and has a fleet of about 1,900 trucks and employs about 2,100 nationwide.

“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 realize our long-term vision to become the premier North American transportation solutions provider,” James Reed, president and chief executive officer of USA Truck said in a statement.

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