Romulus, Mich.’s United Road has acquired Team Drive-Away of Kansas, 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 to sell or reconfigure fleets. Financial terms were not disclosed.
Team Drive-Away handles 20,000 vehicles per year through a national network of more than 500 independent contractors. The acquisition will allow United Road, a vehicle logistics provider serving North America, to move more than 4 million new, used, and specialty vehicles in 2019. Team Drive-Away’s headquarters will remain in Kansas.
“Team Drive-Away is a natural fit for United Road that further diversifies our business,” says 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.”
Neither Team Drive-Away nor its independent contracted drivers own or lease any trucks because of the company’s non-asset-based business model. Class 8 heavy haul vehicles weight 33,000 pounds or more, compared to SUVs at 6,000 pounds. Team Drive-Away’s 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,” says Kathleen McCann, executive chair of United Road. “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.”
United Road provides finished vehicle transport and logistics services from 90 locations throughout the U.S. and Canada. Combined, the two companies serve customers including manufacturers, resellers, commercial fleets, municipalities, rental agencies, dealers, auctions, web-based logistics firms, and individuals. United Road has been a holding of The Carlyle Group’s U.S. Equity Opportunity Fund II since 2017.
Founded in 1998, the company operates an integrated national network. It has more than 1,700 employees, 2,500 company-owned and dedicated independent vehicle carriers, and 4,500 third-party carrier partners.
Team Drive-Away was founded in 2007 and was acquired by CID Capital in 2015. The company and its affiliates, Driveaway USA and Fr8 Management, which were included in the acquisition, employ 45 people.