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.
SOURCE United Road