The Carlyle Group has acquired vehicle hauler United Road Services from Charlesbank Capital Partners, the companies announced Sept. 5. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. What you see here scratches the surface Request a free trial Find United Road Services stock photos and editorial news pictures from Getty Images. Find United Road Services stock photos and editorial news pictures from Getty Images. Its shares are now sold on a pink sheet basis. But the buying spree would soon come to an end. 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United Road Services. The thought of being an industry consolidator, for the time being at least, was simply out of the question. Since 1946, the . Find United Road Services stock photos and editorial news pictures from Getty Images. 10701 Middlebelt Road. He then formed separate committees to examine the state of the towing business and the transport side. Select from premium United Road Services of the highest quality. Besides AxleTech International, which is a supplier of off-highway and specialty drivetrain systems and components, other transportation-related companies in the Carlyle Group portfolio of investments include: Addison Lee Group, a business car service in the United Kingdom, Delhivery Logistics Private Ltd. in India, Greater China Intermodal Investments and Shanghai ANE Juchuang Supply Chain Management Co. in China, Hermes Transportes Blindados and Inca Rail in Peru, Interlink Maritime Corp. in the United States. On the street of Marion Street and street number is 750. ABOUT UNITED ROAD SERVICES, INC. Use Slintel to connect with top decision-makers at United Road Services. United Road ranks No. 56 on the Transport Topics Top 100 list of the largest for-hire carriers in North America with revenue of $525 million in 2016. The company recently negotiated a deal to exchange $429.2 million in outstanding debt for stock to shore up its finances and avoid bankruptcy. To achieve this goal, URSI forged deals with suppliers to reduce the cost of gasoline, tires, and truck parts. Select from premium United Road Services images of the highest quality. Our customers include leading automotive manufacturers, leasing and rental Read more Location & Hours 10701 Middlebelt Rd In this way, the regional towing operations could serve as feeders for the transport services. Vehicle haulers have been riding a wave of strong new car and truck sales in recent years, although not all carriers have been able to cash in on the trend as automakers continue to pressure suppliers for cost savings. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Select from premium United Road Services of the highest quality. United Road Services Salaries How much do United Road Services employees make? There were more cars on the road than ever, a factor that would naturally increase demand for towing services. Established in 1902. We see them around but we don't know what goes on behind the scenes. In October URSI finally settled on its new CEO, hiring Gerald Riordan. Heading the new enterprise as CEO and chairman was Edward T. Sheehan, who came to the towing industry from United Waste Systems, Inc., where he was familiar with the nature of consolidation. The stock then began trading on the NASDAQ, where it soon rose from its IPO price of $13 to a peak of $19.50. UNITED ROAD SERVICES INC (CIK: 0001056562) is an American company incorporated in the state of New York.Head office is located at 17 COMPUTER DRIVE WEST, ALBANY, New York, 12205.Work in the industry 7500 - (CF Office: Office of Trade & Services) SERVICES-AUTOMOTIVE REPAIR, SERVICES & PARKING. Instead of achieving a 15 percent profit margin on the towing side of the business, URSI managed just 8.4 percent. Copyright (c) 2022 Company-Histories.com. Some of them own millions of shares of stock they got when they sold their companies, and they are as upset, if not more upset, than any outsider shareholders." We're committed to providing a fun and convenient shopping experience, with unique products at affordable prices. Moreover, Sheehan had another $265 million in additional acquisitions under discussion. In Roubaix there are 96.990 folks, considering 2017 last census. The company maintained that from the outset it anticipated that Sheehan would ultimately be replaced by a CEO who could make the assembled parts work more efficiently together, but no one expected the company to grow as quickly as it had nor perform so poorly. CREATIVE While board member Donald F. Moorehead stepped in as acting chairman, and President and COO Allan Pass handled the day-to-day running of the business, a New York City executive recruitment firm, Korn Ferry International, was hired to find a new chief executive. Founded in 1997, United Road offers unparalleled service to significant automakers, manufacturers, remarketers, financial institutions, leasing companies, auctioneers, dealers, retail, and single individuals. United Road Services Inc website At United Road we are proud to be the nation's most recognizable and trusted premier transportation provider. Headquartered in Romulus, Michigan, United Road is the premier provider of vehicle transport and logistics in North America. He terminated a $225 million credit facility Sheehan had arranged before leaving, thus ending URSI's acquisitive ways, at least temporarily. Find the perfect United Road Services stock illustrations from Getty Images. Across the city or across the country, United Road IS Driven to Deliver. You must be a. The company hauls more than 3 million new and used vehicles annually for manufacturers, retailers, finance and leasing companies, rental agencies, auctions, web-based logistics firms and individuals. In January 2002 URSI made its first acquisition in almost three years, buying Auction Transports Inc., a Missouri transport company. Bloomberg Wall Street Week, hosted by David Westin, is a reinvention of the iconic Wall Street Week, which aired on PBS for over 30 years and was hosted by late financial journalist Louis Rukeyser. Des Moines, Iowa-based Ruan Transportation Management Systems, one of the largest family-owned-and-operated transportation and logistics companies in the U.S., announced Oct. 28 it has acquired Grand Rapids, Mich.-based National Truck Brokers. Mark Anderson, president and chief operating officer at United Road, said the companys goal is to be the supplier and employers of choice in the finished-vehicle logistics industry., We want passionate, hardworking and smart people on our team, Anderson said. * United Road Services revenue is for 2019. St. James Press, 2005. McCann said the company is on track to move more than 3.5 million vehicles in 2017, compared with 1.5 million in 2012. The average employee at United Road Services makes $58,700 per year, which is competitive for its industry and location. As the search lingered, the company put a hold on further acquisitions in order to begin digesting what URSI had already bought. United Road is the premier auto transport company in North America. Homepage | United Road United Road has added resources and hours during COVID-19 Our Services Open Transportation Largest vehicle hauler across North America Enclosed Transportation White glove services to safely deliver your classic and exotic vehicles Oversized Vehicles Can move anything, any size, anywhere at any time Direct to Home Consumer Services Other Consumer Services. To save money on workers' compensation claims, URSI also improved its safety training programs. We have enjoyed working with Kathleen, Mark and the rest of the team to execute on key elements of our investment thesis, including implementing its national remarketing strategy, accelerating asset-light revenue growth and maximizing its technology platform to improve route efficiency, he said. Towing Industry Highly Fragmented in the 1990s. With the company's financial situation in good shape, Riordan hoped that URSI could now turn the corner, but the business continued to slip. Prior to that stint he served in a variety of financial and operational positions with General Electric Company. During the Las Vegas gathering, URSI drew up a list of objectives, implemented a performance incentive program, and developed an action plan. The Carlyle Groups global reach and expertise coupled with its reputation for helping companies thrive make it an exceptional investor partner, said Kathleen McCann, chairman and CEO of United Road Services in Romulus, Mich. We expect the Carlyle team will help us accelerate our disciplined growth and further enhance our ability to serve our customers.. The future of our food resources depends on one small insect - the western honey bee, or Apis mellifera. The company hauls more than 3 million new and . He was replaced as CEO by Wysocki, who then moved the company's headquarters to the Detroit suburb of Romulus. Find Matching SIC Codes for united-road-services, With Definition and Examples Albany, NY (January 16, 2002) -- United Road Services Inc. (OTCBB: URSI), a leading provider of national transport and regional towing and recovery services, today announced it has acquired the stock of Auction Transport, Inc. ("ATI"), formerly a subsidiary of Manheim Services Corporation. ICC# 343084. We serve the transportation needs of a variety of customers. Visit your Target in Indianapolis, IN for all your shopping needs including clothes, lawn & patio, baby gear, electronics, groceries, toys, games, shoes, sporting goods and more. By the end of the year he added a total of 41 companies to the fold at a cost of $210 million. Select from premium United Road Services of the highest quality. For thus company to be the largest car hauling company in the nation, you'd figure it have the best equipment to get the job done. He was an integral part of the show and was one of the actual human stars . Riordan said of that meeting to Capital District Business Review, "The company didn't have that synergy, that 'team' feeling you want to draw on in good times and in bad. Acquired by The Carlyle Group Romulus, Michigan, United States 1001-5000 Venture - Series Unknown Delisted www.unitedroad.com/ 203,823 Highlights Acquisitions 4 Total Funding Amount $27M Contacts 250 Employee Profiles 2 Investors 4 Similar Companies 3 Recent News & Activity News Jul 15, 2020 Glassdoor has salaries, wages, tips, bonuses, and hourly pay based upon employee reports and estimates. Roubaix has timezone UTC+01:00 (during standard time). CREATIVE Unless you purchase your own truck and trailer, expect to be issued at least 12 different trucks to use your first year. Other trends also favored launching a national towing and transport company. ABOUT UNITED ROAD SERVICES, INC. Leading the way, in every way. We serve our guests in 49 states nationwide and at Target.com. Stock Market Watch . Riordan then took steps to shore up URSI's finances. ABOUT UNITED ROAD SERVICES, INC. Riordan came to URSI from Ryder Systems Inc., where he spent 24 years and held major management positions in a number of business segments, including inventory control, marketing, operations, pricing, and quality. The company was not performing up to expectations, quarterly earnings were poor, and investors responded by bidding down the price of URSI stock to around $4. United Road Services, Inc. is a Connecticut Domestic Profit Corporation filed On April 1, 1998. United Road serves 10,000 customers annually -- including OEM. There were a lot of upset people in this company. The Registered Agent on file for this company is Corporate Creations Network Inc. and is located at 615 West Johnson Avenue #202, Cheshire, CT 06410. Finally, we can read about how these great companies came about with Company Histories.. Most notably,No. Indeed, it is the most important agricultural pollinator on our planet, given that one third of our food supply depends directly on pollination from bees. URS Holdco, Inc., based in Romulus, Michigan, is a leading provider of over-the-road transportation of automobiles and vehicle logistics in the United States and Canada through its principal operating subsidiary, United Road Services, Inc. www.unitedroad.com Ownership Status Privately Held (backing) Financing Status Private Equity-Backed Primary Industry Logistics Other Industries Road Primary Office 41100 Plymouth Road 4th floor Plymouth, MI 48170 United States +1 (800) 000-0000 Want detailed data on 3M+ companies? United Road Services | 6,683 followers on LinkedIn. By January 2000 URSI stock had fallen to about $1.50 per share. The railway system in Great Britain is the oldest railway system in the world. Find the perfect United Road Services stock photos and editorial news pictures from Getty Images. With these funds Sheehan was able to continue URSI's roll-up activity in 1999. Privacy Policy, Boyer, Jeremy, "United Road Services Moves Headquarters from Colonie, N.Y., to Detroit,", Johnston, Jo-Ann, "Albany, N.Y.-Area Towing Company Has National Aspirations,", Pinckney, Barbara, "New Firm Carries Lots of Weight,", ------, "United Road Finds Itself Still Stuck in Ditch,", ------, "United Road Pins Hopes on Radical Restructuring Program,". The company continued to perform poorly in 2003, and in April, Riordan resigned in order "to pursue other opportunities." This combination of talent and trust is what drives United Roads success., Adam Glucksman, managing director at Carlyle Group, said the investment firms deep transportation experience and network will contribute meaningfully to United Roads growth trajectory.. Select from premium United Road Services of the highest quality. An increasing number of vehicles were now under lease, about one out of three, and after coming off lease they had to be trucked to dealerships or auction houses to be resold. Some of its highest paying competitors, Hansen & Adkins Auto Transport, Hines Trucking, and Auto Transport City, pay $56,963, $55,652, and $55,016, respectively. Find United Road Services stock photos and editorial news pictures from Getty Images. The company sold off a number of underperforming units and took several steps to control costs, but 2001 offered little improvement. Bob McGrath, the veteran actor who was one of the original cast members of the hit children's television show Sesame Street passed away today, Monday, December 5, at the age of 90. URS Holdco Inc., the parent company of United Road Services, was downgraded by S&P Global Ratings on Dec. 9 to CCC+ and a negative outlook, from B- and Credit Watch Negative, as the company experienced a "significant earnings decline" in 2020 that weakened credit metrics. Instead, it has gone through a series of management changes, and seen its shares delisted and reduced to penny stock status. But Sheehan's focus was not on running the business as much as it was on growing the business. The United Road Family of Companies is the industry leader in providing vehicle and heavy-haul transportation services, shipping over 4 million units annually throughout the United States and Canada through our affiliated companies (collectively, "United Road"): URS . Bridgetown (UN/LOCODE: BB BGI) is the capital and largest city of Barbados.Formerly The Town of Saint Michael, the Greater Bridgetown area is located within the parish of Saint Michael.Bridgetown is sometimes locally referred to as "The City", but the most common reference is simply "Town". It's postal code is 59100, then for post delivery on your tripthis can be done by using 59100 zip as described. Bob McGrath, an original cast member of the iconic children's television show Sesame Street, passed away peacefully at home, aged 90. learn how over 7,000 companies got started! United Road Services, Inc. (URSI) is a Romulus, Michigan-based company that provides towing services from operations located across the United States and Canada. The one-hour program features market and geopolitical discussions with a rotating panel of influential voices including thought leaders, CEOs, policy makers and economists. Each year, coast to coast and. United Road Services Data through December 31, 2021 Location Romulus, Mich. Stock (The Carlyle Group) Leadership Mark Anderson (President and CEO); Jason Walker (COO); David Gann (CFO). 56 on the Transport Topics Top 100 list of the largest for-hire carriers in North America with revenue of $525 million in 2016. Both men would operate out of their home cities--Borhauer in Phoenix and Wysocki in Detroit--while Riordan worked out of the Colonie office. Riordan then for the first time brought together in Las Vegas all of the company's 66 managers, many of whom had never even met. Each year, coast to coast and across the borders, United Road manages the transport of nearly 2 million cars. Our best-in-class technology and unparalleled service make vehicle transport logistics seamless, smart, and simple. United Road Services is a provider of vehicle transport and logistics in North America. Founded in 1997, United Road evolved both organically and through a series of strategic . United Road Premier Vehicle Transport (vehicle hauling), United Road Alaska Vehicle Transport (vehicle hauling in Alaska), United Road Specialty Vehicle Transport/Pilot Transport (enclosed vehicle hauling), United Road My Vehicle Transport (consumer vehicle hauling). We believe the company has both the people and the structure to support ongoing growth under new ownership., 80 M Street SE, Suite 800, Washington, D.C., 20003, Transport Topics Top 100 list of the largest for-hire carriers in North America, shore up its finances and avoid bankruptcy, Tesla Says Its Self-Driving Tech May Be a Failure, but Not Fraud | Transport Topics, Secretary Buttigieg Lauds Workers at UPS Worldport Hub | Transport Topics, Kansas Oil Spill Biggest in Keystone History, According to Federal Report | Transport Topics, Port of L.A.s Gene Seroka Sees Labor Deal Coming Early Next Year | Transport Topics, Whos Who in Self-Driving Truck Development | Transport Topics, 2022 Transport Topics | All Rights Reserved. Receive our daily pre-market mover email, free. Some of the eight towing companies that joined forces to create URSI fell into this category. Each year, coast to coast and across the borders, United Road manages the transport of nearly 2 million cars. "I use Theranos as a warning case for students in accounting: it's the canary in . Revenues were $529 million for the last twelve months ended March 31, 2021. URSI's eight founding firms were Northland Auto Transporters Inc./Northland Fleet Leasing Inc. of Detroit; Milne Tow & Transport Service of Reno, Nevada; Quality Towing of Las Vegas; Caron Auto Works Inc./Caron Auto Brokers Inc. of East Hartford, Connecticut; Absolute Towing and Transporting Inc. of Los Angeles; Keystone Towing Inc. of Los Angeles; Falcon Towing and Auto Delivery Inc. of Los Angeles; and ASC Transportation Services of Sacramento. URSI was incorporated in July 1997 as a roll-up vehicle in the towing industry, as had been done in any number of industries in recent years. With the largest and still-growing nationwide network of carhaul opportunities, we are looking for talented and experienced driving professionals. The Company offers auto transport, car shipping, enclosing, finished vehicle logistics, remarketing, and door-to-door delivery services. United Road Services, Inc. provides vehicle transportation logistics solutions. Despite selling off unprofitable units, or simply closing them down, and initiating further cost cuts, URSI offered another disappointing balance sheet when the results of 2002 were tallied. This documentary tells the story of a worldwide ecological disaster that has been waiting to happen for several generations. Each unit listed for sale has undergone a thorough inspection/repair process and is ready to hit the road. The estimated additional pay is $23,651 per year. Ryan Kraft holds the position of Vice President-Operations & Technology at United Road Services, Inc. Mr. Kraft received an undergraduate degree from Indiana University. As consumers, we often take for granted all the hard work that goes into building a great company. Moreover, many of these companies were owned by people ready to retire and who were willing sellers. The estimated total pay for a Sales at United Road Services is $70,524 per year. Ryan Kraft holds the position of Vice President-Operations & Technology at United Road Services, Inc. Mr. Kraft received an undergraduate degree from Indiana University. Each year, coast to coast and across borders, United Road manages the transport of more than 3 million vehicles. On the day it completed its IPO, URSI spent $32 million to acquire seven more companies, adding 15 operations in six states. Created as a consolidator of the highly fragmented towing industry, URSI has been stifled in its attempts to become a national powerhouse. Romulus, MI 48174. You can get more information from their website. United Road Services, Inc. - AZ, CA, CT, DE, FL, IL, MI, NV, NY, TX UNITED ROAD SERVICES, INC. Sales Based on 47 salaries Sales Representative 8 salaries Sales Consultant 8 salaries View More Finance & Accounting Based on 20 salaries Accounts Receivables United Road ranks No. 10701 Middlebelt Road. A GE Capital affiliate, CFE Inc., bought $2 million in preferred shares and provided URSI with a $93 million credit facility in the summer of 2000. In November 1998, Sheehan arranged a $75 million infusion of cash by selling convertible subordinated debentures to Charterhouse Group International Inc., a New York City private investment firm. All Rights Reserved. Finally, automakers were turning to transport companies to deliver vehicles to market and were inclined to contract with a reliable national supplier. Source: International Directory of Company Histories, Vol.69. Charlesbank Managing Director and CEO Michael Choe also commented on United Roads capabilities and potential for more growth. Address: 10701 Middlebelt Romulus, Michigan 48174 U.S.A. Telephone: (734) 946-3232 Fax: (734) 947-7902 http://www.unitedroad.com Statistics: Public Company Incorporated: 1997 Employees: 1,726 Sales: $248.7 million (2002) Stock Exchanges: Pink Sheets Ticker Symbol: URSI NAIC: 488410 Motor Vehicle Towing United Road Services, Inc. 10701 Middlebelt Romulus, Michigan 48174 U.S.A. Telephone: (734) 946-3232 Fax: (734) 947-7902 Web site: http://www.unitedroad.com Public Company Incorporated: 1997 Employees: 1,726 Sales: $248.7 million (2002) Stock Exchanges: Pink Sheets Ticker Symbol: URSI NAIC: 488410 Motor Vehicle Towing Effectively out of a job, Pass resigned, and Riordan subsequently hired unit presidents: Harold Borhauer for towing and recovery and Michael Wysocki for transport. Once in charge of URSI, Riordan moved quickly to stop the bleeding. The company lost another $84.7 million, on sales of $248.7 million. Mouse over our interactive map to find out where the 2022 Top 100 Private Carriers are located by region in North America. Select from premium United Road Services of the highest quality. Their satisfied clients include all major global vehicle manufacturers, re-marketers, financial institutions, car auctions, car dealers, retail single units and personally owned vehicles. The company's senior secured debt was lowered as well to CCC+ from B-. Sponsored Links Sponsored Links ADDITIONAL LINKS Search All Companies (Displaying 14 matches) The information on this page is being provided for the purpose of informing the public about a matter of genuine public interest. He was eager to begin acquiring towing companies as well as transport businesses, with the goal of creating an integrated national transport network. 11 of Manitoba province. United Road serves 10,000-plus diverse customers including manufacturers, retailers, finance and leasing companies, rental agencies, auctions, web-based logistics firms and individuals transporting millions of new, remarketed and specialty vehicles annually. Transport services had an 18 percent margin instead of the desired 20 percent. The company's filing status is listed as Active and its File Number is 0577791. The first locomotive-hauled public railway opened in 1825, which was followed by an era of rapid expansion. To communicate or ask something with the place, the Phone number is (204) 891-3702. During his tenure at United Waste from 1992 to 1997, when Sheehan served as president and chief operating officer, United Waste was rolled up by USA Waste Services, Inc. Sheehan also spent two years as the chief financial officer of Clean Harbors Inc., a Massachusetts environmental services company. Find United Road Services stock photos and editorial news pictures from Getty Images. United Road is the premier automotive transport expert, annually shipping more than three million vehicles for 10,000+ customers throughout North America. As of 2014, its metropolitan population stands at roughly 110,000. It was a fast pace, one well ahead of schedule, yet Sheehan was far from finished for the year: He had signed letters of intent for more than 60 additional purchases. Mary Petrovich, an operating executive at Carlyle and chairwoman of AxleTech International Holding, will join United Roads board of directors. United Road Services Inc. will haul more than 3 million vehicles for automakers in the U.S. and Canada this year, CEO Kathleen McCann said. All rights reserved. As we retire trucks from our fleet, we offer the best units for sale to our partners. For more information, please visit www.charlesbank.com. Most of the track is managed by Network Rail, which in 2017 had a network of 15,811 kilometres (9,824 mi) of standard-gauge lines, of which 5,374 kilometres (3,339 mi) were electrified. United Road Services, Inc. United Road Services, Inc. has been operating for 24 years 4 months, and 2 days. Experienced drivers with United Road earn an average of $68,000 per year and we provide one of the best benefits plans in . Headquartered in Romulus, Michigan, with service centers across the U.S. and Canada the . UNITED ROAD SERVICES INC is a public company and trade via Over-The-Counter (OTC). Principal Subsidiaries: URS Midwest, Inc.; URS Northeast, Inc.; URS Southeast, Inc,; URS Southwest, Inc.; URS West, Inc.; URS Leasing, Inc. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. The owners of the founding firms stayed on to manage their local operations and became directors of United Road. The company hoped to raise $66 million, of which $32.3 million was earmarked to purchase the founding firms. Find the perfect United Road Services stock photos and editorial news pictures from Getty Images. They provided the capital, support and encouragement to expand our reach and capabilities both organically and through the acquisition of a major competitor, which gave us a deeper presence in the Southeast and Southwest U.S.. Founded in 1998, United Road Services is the premier finished vehicle logistics company in North America. URSI offers a variety of towing services in addition to road service, including automobile transport, heavy equipment transport, law enforcement towing, insurance salvage towing, private impound towing, and repossession services. Borhauer had 28 years of experience in the field and was the founder of one of URSI's acquisitions, Phoenix-based Towing Professionals Inc. Wysocki brought 27 years of experience in the trucking industry and was the founder of URSI's largest acquisition, vehicle carrier MPG Transport Ltd. of Charlestown, Massachusetts. Jack Cooper Transport reported revenue of $667.8 million in 2016, a decline of 8.3% from the year before. Find the latest United Parcel Service, Inc. (UPS) stock quote, history, news and other vital information to help you with your stock trading and investing. We work hard to ensure our customers trust United Road to move their cars safely, on-time and damage-free. Select from premium United Road Services of the highest quality. Their satisfied clients include all major global vehicle manufacturers, re-marketers, financial institutions, car auctions, car dealers, retail single units and personally owned vehicles. XPO Logistics Inc. on Aug. 4 reported record revenue and net income for the second quarter, part of a busy week for the Greenwich, Conn.-based company. A major objective was to become more efficient and to cut daily operating costs. He became president of two business units, consumer truck rental and public student transportation, and was instrumental in the revitalization of Ryder's consumer truck rental business. The estimated base pay is $46,873 per year. Torrid Acquisition Pace Following 1998 IPO. It's a good time to be a car hauler. In addition, Richard Molyneux, an outside director, replaced Moorehead as chairman. Find useful insights on United Road Services's company details, tech stack, news alerts, competitors and more. Every United Road truck undergoes a rigorous and timely preventative maintenance schedule to ensure our trucks stand the test of time. UNITED ROAD SERVICES, INC. was registered on Apr 01, 1998 as a stock type company located at 10701 MIDDLEBELT RD., ROMULUS, MI 48174 The agent name of this company is: CORPORATE CREATIONS NETWORK INC. , and company's status is listed as Active now. After hearing back that the two groups had their own sets of problems to address, in early 2000 he effected a reorganization of the business, creating two operating units: towing/recovery and transport. 48 Jack Cooper Holdings Corp., the largest vehicle hauler in North America, saw its share of the market for transporting new vehicles decline with the loss of business from Nissan. Select from premium United Road Services of the highest quality. ATI provides automobile transport services to various Manheim Auction, Inc. ("Manheim") auction locations . Our strategic growth platform was really turbocharged in late 2012 when we were acquired by Charlesbank, McCann said in a statement Sept. 5. After losing $29.7 million on revenues of $255 million in 1999, the company reported a loss of $159 million (including a $129 million impairment charge) on revenues of $247 million in 2000. A large transportation company with 1,300 employees, United . More details about Roubaix in France (FR) It is the capital of canton of Roubaix-1. Although URSI had no towing operations in the area, it established corporate headquarters in Colonie, New York, close to Albany, where Sheehan made his home. Then, in July, it spent $40 million for another 12 companies. The company also made some changes to the employee benefits program to cut costs. In August 1998, URSI announced a slate of 11 acquisitions, including Central Service Inc. of Albany, a deal that added a local flavor to the company. He lined up a $25 million investment by Blue Truck Acquisition LLC, an affiliate of KPS Special. 80 M Street SE, Suite 800, Washington, D.C., 20003, Mark Anderson (President and CEO); Jason Walker (COO); David Gann (CFO). Throughout the year, the price of its stock hovered between 25 cents and 50 cents--or less than a nickel if viewed in terms of the price before the reverse split. The company is owned by KPS Special Situations Funds, a New York private equity firm known as a buyer of last resort. Every year, we successfully deliver over three million vehicles to destinations across the United States and Canada, with a commitment to on-time and damage free deliveries. The idea of a towing company roll-up was so well received by investors, however, that URSI raised $86 million when the offering was completed in May 1998. The idea was inviting, given that towing and transport services generated about $15 billion a year in North America, and it certainly appeared viable because the towing industry was composed of thousands of mom-and-pop operations, perhaps 90 percent of the 50,000 towing companies operating in the United States. 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Romulus, MI 48174. Audit services vs consulting services. The company took a "hub-and-spoke" approach, with Colonie serving as the centralized hub for management, administration, dispatch, and maintenance operations, essentially offering support to the individual towing companies. The equipment here at URS is the bottom of the barrel, and you are set up to fail because of it. Founded in 1998, United Road Services, Inc. is the most diversified finished vehicle logistics company in North America. United Road Services serves clients in the United States and Canada. In January of that month, the company bought four transport firms located in Montana, Tennessee, and Utah, and two towing companies located in Indiana and Tennessee. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. The company managed to reduce its loss to $13.7 million in 2001, but that was hardly positive news for investors. Across the country police were cracking down on unlicensed, unregistered, uninsured, and intoxicated drivers and contracting towing companies to remove the vehicles involved. "When there is tension between professionalism and commercialism, [the latter] will always win out." "You cannot restrain the heartless except via enforcement." 37:50 On lessons for directors in frauds of private companies. United Road Services: Winnipeg is located in Division No. Another major vehicle hauler, Cassens Transport, also reported a 2.9% drop in revenue to $317.6 million in 2016 from $327.2 million in 2015. It was a hopeful sign, but little more. In 1997 their combined assets totaled $76 million, and together they generated revenues of $46.5 million. He was able to convert some debt to stock, which helped to cut URSI's significant debt load, but it remained very much in doubt whether he would ever be able to turn around the business. Current management will remain in place and continue to hold an unspecified equity stake in the business, officials said. United Road is the premier auto transport company. In June the URSI board met, shortly after the announcement of disappointing second quarter numbers, and Sheehan was ousted as chairman and CEO. Industry Leader Providing Vehicle and Heavy-Haul Transportation Services Throughout the U.S. and Canada | United Road is the premier automotive transport expert, annually shipping more than 4 million vehicles for 10,000+ customers throughout North America. All told, these companies maintained 17 operations in Arizona, California, Connecticut, Florida, Michigan, Nevada, and New Jersey. United Road serves 10,000-plus diverse customers - including manufacturers, retailers, finance and leasing companies, rental agencies, auctions, web-based logistics firms and individuals -. Founded in 1998, United Road Services, Inc. is the premier finished vehicle logistics company in. In February 1998 URSI filed to make an initial public offering (IPO) of stock. Customers include government agencies, automakers, auto dealers, corporate fleets, motor clubs, insurance companies, and lending institutions. 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