Pacer International, Inc., the North American freight transportation and logistics services provider, announced that it has entered into an agreement with Universal Truckload Services, Inc. and UTS Leasing, Inc. (collectively, ‘UTSI’) to sell certain assets. These assets include customer, contractor and agent lists, and owned trailers of Pacer Transport, its specialized heavy-haul trucking operation. ‘In connection with its purchase of these assets, UTSI will also assume, subject to receipt of appropriate consents, two real property leases and equipment leases for tractors and trailers used in the operation. ‘The closing, which is subject to customary closing conditions, is expected to occur in August. ‘Pacer will retain rights to all receivables generated by this trucking operation through the closing date.
‘We believe that UTSI is the right buyer for Pacer Transport and that this is the right time to transition Transport’s people, assets, and customers into the hands of a very capable company where they will complement UTSI’s services portfolio. We appreciate the excellent progress the Transport team has been making and look forward to a smooth transition into UTSI’s operations,’ said Michael E. Uremovich, chairman and CEO of Pacer.