URS Assembles Car Haul Network

United Road Services is putting together the first national nonunion auto hauling and towing network.

Since completing a stock offering in May, URS has acquired more than a dozen companies. It is moving rapidly to consolidate its position in an industry long dominated by unionized auto haulers and thousands of mom-and-pop towing firms.

The company, based in Albany, N.Y., raised $79.8 million in its initial public offering, selling more than 6 million shares at $13 each. In November, Charterhouse Group International agreed to purchase $75 million of subordinated debentures from the company in two installments to finance additional acquisitions.

To manage its growing business, URS has assembled an executive team headed by Edward T. Sheehan, with Allan D. Pass as executive vice president.

Sheehan is the former president of United Waste System, a major consolidator in the waste hauling industry until the company was sold to USA Waste Services in August 1997. Pass worked with Sheehan at United Waste System as a consultant and joined URS last February.

The company’s goal is to create “an integrated, full-service transportation delivery system,” Pass said last week during an interview.

Currently, about half of the company’s business involves transporting new and used automobiles and heavy equipment. The rest is vehicle and equipment towing and recovery.

For the full story, see the Feb. 15 print edition of Transport Topics. Subscribe today.