July 31 - Concord, California-based road haulier Pacer International has sold Pacer Transport, its specialised heavy-haul trucking operation, to Universal Truckload Services and UTS Leasing. The deal is expected to be concluded in August.
In connection with its purchase of these assets, the two companies, known as UTSI, will also assume, subject to appropriate regulatory and legal consents, two property leases and equipment leases for tractors and trailers used in the operation.
"We believe that UTSI is the right buyer for Pacer Transport and that this is the right time to move Pacer Transport's people, assets, and customers into the hands of a very capable company where they will complement UTSI's services portfolio. We look forward to a smooth transition into UTSI's operations," said Michael Uremovich, chairman and CEO of Pacer.