Denmark-based DSV, a global supplier of transport and logistics, said Thursday it is seeking a buyer for USA Truck, which the company inherited when it acquired USA Truck parent DB Schenker in April.
DB Schenker, one of the largest logistics service providers in the world, paid approximately $435 million for USA Truck in June 2022. DSV paid almost $16 billion to acquire Schenker and did so with the intent of selling off the Van Buren, Arkansas-based carrier.
"With the acquisition of Schenker, DSV assumed control over Schenker's road activities in the U.S.," DSV noted in its earnings filing Thursday. "Part of the activities were acquired with the intention of future resale, resulting in a portion of Schenker U.S. Road operations being classified as a disposal group held for sale and designated as discontinued operations."
Michael Ebbe, DSV A/S Group CFO, confirmed in a call with analysts Thursday that the company has "classified (USA Truck) as a divestment non-continued business."
At the time of its acquisition, DB Schenker CEO Jochen Thewes called USA Truck "the perfect match for DB Schenker's strategic ambition to expand our network in North America." However, DSV found it wasn't a match going forward, noting the company will focus on maintaining its existing asset-light business model as it integrates Schenker’s U.S. business.
In 2022, USA Truck was No. 68 among CCJ's Top 250 for-hire carriers, included almost 2,000 trucks, about 1,400 company drivers, and nearly 700 contracted drivers.
