Paschall Truck Lines’ (PTL) parent Interstate Personnel Services (IPS) is in talks to acquire J&R Schugel Trucking (JRS). An internal memo referencing the “potential acquisition” was sent from the IPS board to its shareholders and employees, instructing them that they will receive voting materials in the coming weeks.
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“After several months of exploratory dialogue, both parties agreed to enter into formal negotiations, recognizing the potential advantages of a combination,” the Tuesday memo stated.
(IPS transferred 100% of its stock to employees through an employee stock ownership plan in 2013. JRS is also structured as an ESOP company.)
The combination would create a 2,000-truck and 5,000-trailer fleet. PTL is listed with 1,089 power units, according to FMCSA data, while JRS is listed with 731 units. (JRS shows ownership of 1,000 power units and more than 3,000 trailers on its LinkedIn page).
In addition to increased scale, the acquisition would add refrigerated truckload transportation to the IPS network.
The IPS brands, which include Murray, Kentucky-based PTL and the 2021 acquisition of Joplin, Missouri-based Transport Distribution Co. (TDC), primarily provide over-the-road, regional and dedicated dry van transportation. The group also offers cross-border Mexico and Canada transportation and TL brokerage services.
Founded in 1974, JRS provides both dry van and temperature-controlled service across the 48 contiguous states. The carrier also has brokerage operations. In addition to a Minnesota headquarters, it also operates facilities in Wisconsin, Ohio, Michigan and Georgia.
JRS changed its ownership structure to employee-owned in 2014.
FreightWaves has reached out to PTL and JRS for comment.
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