Acquisitions & Partnerships: TEN, USA Truck, and San Jacinto College expand fleets and CDL training
Key takeaways
- TEN’s $50M lease with USA Truck expands the fleet's capacity and provides flexible trailer solutions for growth.
- San Jacinto College and FleetForce partnership increases CDL training access to address driver shortages.
- MicroVision’s Luminar acquisition adds lidar sensors and talent, boosting the company's vehicle safety tech.
TEN and USA Truck finalize $50M enterprise lease to expand fleet and support growth
TEN recently finalized a $50 million enterprise lease agreement with USA Truck, providing a dedicated fleet of 53-foot dry van trailers to support immediate operational needs and long-term growth.
“When time is of the essence, having a partner who truly understands your business makes all the difference,” George Henry, CEO at USA Truck, said. “TEN’s team moved quickly, listened to our needs, and worked closely with us to design a structure that supports where we are today and where we are headed tomorrow.”
The partnership leverages TEN’s industry expertise and ability to deploy capital quickly, delivering tailored fleet solutions that align with USA Truck’s strategy. The creative lease structure offers flexibility for USA Truck to scale operations as the company expands. Read more…
San Jacinto College partners with FleetForce to expand CDL training in Houston region
San Jacinto College recently partnered with FleetForce Truck Driver Training to expand commercial driver’s license (CDL) programs on the college’s campus in the greater Houston area.
“Agreements like this ensure San Jacinto College can keep workforce education affordable, relevant, and sustainable for the communities we serve,” said Dr. Sallie Kay Janes, associate vice chancellor of continuing and professional development, San Jacinto College. “By partnering with a provider like FleetForce, we are able to offer high-quality CDL training while reducing costs for the college and reinvesting those savings into student success and regional workforce development.”
The partnership provides on-site training and testing for Class A, B, and C CDL programs to help address truck driver shortages in the region. FleetForce’s programs prepare students for high-demand trucking careers, including opportunities for competitive pay, benefits, and advancement into owner-operator roles.
MicroVision acquires Luminar lidar assets to expand commercial vehicle safety solutions
MicroVision recently agreed to acquire certain assets from Luminar Technologies, including IP, inventory, key talent, and commercial contracts related to the Iris and Halo lidar sensors.
"We are thrilled with this opportunity to strategically accelerate MicroVision's commercial objectives and to further progress the unique products developed by the Luminar team," Glen DeVos, MicroVision's CEO, stated. "Having already proven our ability to identify strategic opportunities to advance our business priorities and effectively integrate unique assets and talent into the MicroVision family, we intend to very efficiently integrate the acquired business with an intense focus on streamlining operations and managing costs."
The acquisition was secured through a competitive auction under Section 363 of the U.S. Bankruptcy Code for a cash price of $33 million. The acquisition was expected to be completed on or shortly after February 2. Read more…
