ROMULUS, Mich., Oct. 21, 2019 /PRNewswire/ -- United Road, in
partnership with its owners, The Carlyle Group (NASDAQ: CG) and
other investors, today announced the acquisition of Team Drive-Away
(TDA) and its affiliates Driveaway USA and Fr8 Management from CID Capital. Based
in Olathe, Kansas, TDA is a
national non-asset-based commercial vehicle logistics provider
specializing in matching professional drivers with moves of used
and new heavy-haul Class 8 trucks for sellers and buyers as well as
moves to reposition and optimize fleets. TDA handles 20,000
vehicles annually via a national network of more than 500
independent contractors. Together with TDA, United Road, the
largest, most diversified finished vehicle logistics provider in
North America, will move over four
million new, used and specialty vehicles in 2019. TDA headquarters
will remain in Kansas.
"Team Drive-Away is a natural fit for United Road that further
diversifies our business," said Mark
Anderson, President and CEO of United Road. "TDA is a
customer-driven business that brings new heavy haul capabilities to
United Road. Its asset-light business model of partnering with
trusted independent contractors combined with our geographic
territories will bring new opportunities and new customers to our
combined enterprise."
TDA's non-asset based business model means neither TDA nor its
independent contracted drivers own or lease any trucks.
Transporting heavy equipment such as trucks, utility vehicles, or
fire trucks is a specialty business. Class 8 heavy haul vehicles
weigh 33,000 pounds or more compared to SUVs at 6,000 pounds. TDA's
skilled contractors transport loads as singles, multi-level
platform decks or tow-behind booms.
"Team Drive-Away and its affiliates are known, respected
providers in the heavy vehicle drive-away space," explained United
Road's Executive Chairman, Kathleen
McCann. "Welcoming TDA to United Road expands our vehicle
transport solutions, giving us the ability to move vehicles of
every type, from light cars to heavy trucks, always with a
commitment to doing so on-time, safely and damage-free."
Headquartered in Romulus,
Michigan, United Road provides finished vehicle transport
and logistics services from 90 locations throughout the U.S. and
Canada. Combined, United Road and
Team Drive-Away serve a broad range of customers, including
manufacturers, resellers, commercial fleets, municipalities, rental
agencies, dealers, auctions, web-based logistics firms and
individuals, among others. United Road has been a holding of The
Carlyle Group's U.S. Equity Opportunity Fund II since 2017.
Team Drive-Away, founded in 2007, was acquired by CID Capital in
2015. TDA and its affiliates, Driveaway USA and Fr8 Management, employ 45
professionals. Financial details regarding the acquisition were not
disclosed. Visit www.unitedroad.com and
www.teamdriveaway.com
Founded in 1998, United Road is the premier finished vehicle
logistics company in North America. Each year, coast to coast
and across borders, United Road manages the transport of 4
million-plus vehicles. Headquartered in Romulus, Michigan, the company operates an
integrated national network, has over 1,700 employees, 2,500
company-owned and dedicated independent vehicle carriers, and 4,500
third-party carrier partners.
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SOURCE United Road