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IPS announces addition of J&R Schugel
Yahoo Finance· 2025-10-31 16:55
Group 1 - Interstate Personnel Services (IPS) has acquired J&R Schugel (JRS), with employee owners of both companies voting overwhelmingly in favor of the deal [1] - Financial terms of the transaction were not disclosed, and both companies are 100% employee-owned [1] - The acquisition expands IPS's capabilities and services, creating new opportunities for employee owners [2] Group 2 - J&R Schugel, based in New Ulm, Minnesota, has been operating for 50 years, providing dry van and temperature-controlled services across the continental United States [2] - JRS operates facilities in Wisconsin, Ohio, Michigan, and Georgia, in addition to its headquarters [2] - The deal results in a combined fleet of nearly 2,000 trucks and 6,000 trailers, enhancing the scale and adding refrigerated assets to the IPS network [3] Group 3 - The acquisition preserves the employee-ownership culture of both organizations while enhancing value for customers [4] - IPS is the parent company of Paschall Truck Lines and Transport Distribution Co., which provide over-the-road, regional, and dedicated dry van transportation [3]