The two freight haulers will operate as wholly owned subsidiaries of UHC, the company said.
As part of this purchase, UHC acquired approximately 80 newer-model tractors and 85 newer-model 53-foot refrigerated trailers. The two companies acquired had a combined gross revenue of more than $17.5 million for 2019, UHC said. Since their inception in 2013, both companies have remained profitable every year. The management of the two companies acquired, and their teams, will remain on board.
By acquiring the companies, UHC says it now offers “The Ultimate Program,” which allows individuals who have dedicated their lives to the over-the-road trucking industry the opportunity to turn their dreams into reality.
When The Ultimate Program was developed seven years ago, five drivers were hired who wanted to become owner-operators. This was the first step in test marketing the program. Those five drivers are still with the two acquired companies today. UHC now has more than 75 drivers in The Ultimate Program, and UHC’s goal is to have more than 100 drivers in the program by the end of 2021.
The Ultimate Program allows individuals to become owner-operators and purchase a newer-model semi-tractor with no money down. Credit is not an issue, the company said, as UHC is their bank. All the trailers in the UHC fleet are 53-foot refrigerated trailers.
“UHC believes hauling fresh and frozen food products ensures the company to be somewhat recession proof,” the company maintained.
“UHC handles everything, except driving the tractor. UHC is truly a unique, one-of-a-kind, one-stop shop. The trucking industry has an 80% annual turnover rate. The two companies acquired have a turnover rate of less than 15%. Hiring drivers is a constant battle for the trucking industry. UHC does not have that challenge. UHC buys loyalty.
“The grass is as green as it gets in the trucking industry at UHC.”