DeWitt Represents J&R Schugel Trucking in Multi-Party ESOP Transaction

GREEN BAY | MADISON | MILWAUKEE | MINNEAPOLIS

DeWitt LLP law firm announced today that it represented J&R Schugel Trucking, Inc. (JRS) of New Ulm, Minnesota, in its October 31, 2025, acquisition by Interstate Personal Services, Inc. (IPS).

The transaction involved two employee stock ownership (ESOP) entities, as well as JRS and its affiliated equipment leasing and freight brokerage entities. Over the course of approximately five months, a multi-disciplinary DeWitt deal team, including members from its ESOP, transportation and logistics, employment, and corporate practice groups, guided JRS through a complex, multi-million dollar transaction structured as a share exchange.

Unlike a traditional acquisition involving two parties, this transaction involved four principal parties, including two highly regulated ESOP trustee owners for each entity, all of whom were signatories to the final agreement. JRS, a family-built transportation company founded in 1960 and an ESOP-owned company since 2014, entered this next chapter positioned to continue to serve its customers while supporting its employee owners.

DeWitt attorneys worked closely with JRS’s management team to structure the transaction in a manner that protected JRS’s interests under IPS ownership and supported future coordinated operations with other IPS-owned transportation entities.

“This was a highly nuanced transaction that required aligning the interests of multiple stakeholders while navigating the regulatory and fiduciary obligations unique to ESOP-owned companies,” said Michal Glover, a partner in DeWitt’s Minneapolis office and a member of the deal team. “Our team was proud to help J&R Schugel transition to its next phase of growth in a way that honored its history, protected its employee-owners, and positioned the company for long-term success.”

To learn more about how DeWitt delivers strategic counsel on complex, multi-party transactions, visit dewittllp.com/contact.

About DeWitt

Founded in 1903, DeWitt LLP is one of the ten largest law firms based in Wisconsin, with an additional presence in Minnesota. It has more than 130 attorneys practicing in Green Bay, Madison, and Greater Milwaukee, Wisconsin, and Minneapolis, Minnesota, and has the experience to service clients of all scopes and sizes. DeWitt is known for its work in a variety of legal areas, including transportation & logistics, family law, background screening, business law, employee stock ownership plans, employee benefits, intellectual property, patents, trademarks and copyright law, construction litigation, employment relations, environmental, estate planning, family business, litigation, real estate, tax law, and more. Additional information is available at dewittllp.com.