USA Truck (No. 70 on the CCJ Top 250) announced last week its acquisition of Carnesville, Georgia-based Davis Transfer Company and related entities.
Davis is a privately-held regional carrier in the Southeast with approximately 265 trucks, according to the Federal Motor Carrier Safety Administration data. A press release from USA Truck states Davis has recently had approximately $50 million in annual revenues.
The terms of the acquisition were not disclosed, but it will be primarily funded by USA Truck’s revolving credit facility and cash on hand.
Davis was founded in 1959 and has been family-owned since. The company has been managed as a full truckload carrier for the past 20 years by Gary, Bill and Todd Davis. Todd Davis will join USA Truck as a vice president.
Davis Transfer will operate independently of USA Truck as a wholly owned subsidiary, and Davis employees should “notice little change moving forward,” USA Truck said in its press release.