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Transforce Group Completes Acquisition Of United States Truck Driving School

Transforce-Group
TransForce Group, a leader in the transportation and logistics industry, has purchased the United States Truck Driving School (USTDS) in Denver and Colorado Springs, Colorado. The sale was finalized October 18, 2021. TransForce Group is majority owned by an affiliate of Palladium Equity Partners, LLC, a private equity firm, and this purchase marks the eleventh acquisition of the TransForce Group under Palladium's ownership.

The recent acquisition of United States Truck Driving School demonstrates our ongoing commitment to solving the driver shortage and to provide meaningful career opportunities for qualified CDL candidates across the country,"

Dennis Cooke, President and CEO of TransForce Group.

The nationally recognized school is a leader in CDL driver training and CDL testing in Colorado. The addition of USTDS, a full-service commercial truck driving school, helps expand TransForce Groups' national footprint, further strengthening the company's commitment to providing innovative solutions to motor carriers.

USTDS will retain its name and become a part of The CDL School, a TransForce Group Company, and will aid in expanding its veteran work placement program, providing CDL training solutions for service members to now include: the Northeast to the Great Plains and Rocky Mountains, Pacific Coast, Alaska and Hawaii. Military veterans can use their Post-9/11 GI Bill® for CDL training and access the company's military apprenticeship program while earning a substantial paycheck in their new career as professional truck drivers.

"We are honored and excited to welcome USTDS to the TransForce Group family, said Al Hanley III, Division President at The CDL School, a TransForce Group Company. "USTDS has been a leader in Colorado for more than five decades, and we look forward to combining and leveraging the great strides both companies have made in educating and training the next generation of professional truck drivers."

"Al and his team embody the philosophy that has driven USTDS through the years; they put the student and the driver first. We are pleased that through this partnership, we will continue the great work started by the late Johnny Mauro, founder of USTDS," added Richard Lammers, Owner, and CEO of the United Truck Driving School.

About TransForce Group
TransForce Group is a recognized leader in the transportation and logistics industry offering innovative and integrated, technology-enabled solutions to third-party logistics, private fleets, and trucking companies to accelerate their growth, improve efficiencies and solve organizational demands. From increased driver application flow through digital marketing to full and partial outsourced recruiting capabilities, TransForce Group continues to actively expand and diversify their portfolio ahead of industry trends. The company continues to lead the industry in innovative driver shortage solutions by enrolling new CDL students (many of them veterans) and guiding them from the classroom through their career as a professional driver, boasting an above-industry-average, diverse driver workforce. The company recently and successfully launched TransForce One, a digital network of prequalified, ready-to-work, CDL-licensed drivers matched in real-time with carrier jobs. TransForce Group operates throughout the U.S. and Canada. Additional information about TransForce Group can be found at transforcegroup.com.

About Palladium Equity Partners, LLC
Palladium is a middle market private equity firm with nearly $3 billion in assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has made [38] platform investments and over [144] [IR to confirm] add-on acquisitions. For more information on Palladium, please visit palladiumequity.com.

About The CDL Schools
The CDL Schools is a full-service Truck Driving School. Founded in 1963, and based in Miami, Florida, The CDL Schools specializes in providing training for individuals to obtain their commercial driver's license. The school also provides vocational training and employment training for individuals who are seeking employment within the ground transportation industry. The CDL Schools is a market leader in its innovative and educational approach. They provide programs that range in length from a few hours to pass an exam (CDL License Training course or 'CLT') to several weeks to obtain employment (certificate/diploma programs). In 2012, the school launched its military hiring program, Troops Into Transportation (T2T). T2T focuses on helping service members and veterans find employment in transportation. 

United States Truck Driving School (USTDS)
USTDS was founded in 1958 by John Mauro, a former Indy 500 racecar driver, who founded the truck driving school in response to the rising demand for professional truck drivers. Today, USTDS operates two separate driver training centers in Colorado (Denver and Colorado Springs), utilizes a fleet of 40 modern tractor-trailer rigs, and employs approximately 40 full-time employees.

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