IPS in Talks to Acquire J&R Schugel Trucking, Creating Major Industry Player
Interstate Personnel Services (IPS) is in advanced talks to acquire J&R Schugel Trucking (JRS), potentially creating a significant player in the trucking industry. Both companies have agreed to formal negotiations, recognising the potential benefits of a combination.
The acquisition, if successful, would result in a combined fleet of 2,000 trucks and 5,000 trailers. J&R Schugel Trucking, with its brokerage operations and facilities across multiple states, would bring additional capacity and expertise to IPS. Notably, JRS offers both dry van and temperature-controlled services, which would expand IPS's current dry van transportation offerings, adding refrigerated truckload transportation to its network.
Both IPS and JRS are structured as employee stock ownership plan (ESOP) companies, which could facilitate a smooth integration. The IPS board has confirmed the potential acquisition in an internal memo and voting materials are set to be released.
The acquisition, if approved, would significantly enhance IPS's service capabilities and fleet size. It would also expand its reach into temperature-controlled transportation, providing customers with a broader range of services. The details of the acquisition, including the timeline and any regulatory hurdles, are yet to be disclosed.
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