J&R Schugel Buys Super Service
Carrier J&R Schugel Trucking Inc. purchased Super Service, a dry-van truckload carrier that provides regional hauling, dedicated trucking and logistics services primarily east of the Mississippi River.
Terms of the deal weren’t disclosed.
The seller was Wayzata Investment Partners, an investment firm that has owned Super Service since 2009. Investment bank Cowen advised Wayzata on the purchase.
“We have seen the strong freight environment combined with the growing shortage of drivers result in increased mergers and acquisition interest in carriers with meaningful capacity,” said Mark Saraiva, Cowen’s head of transportation investment banking.
New Ulm, Minn.-based J&R Schugel is an employee-owned carrier with 600 power units and more than 1,000 trailers. It operates in the continental United States, providing over-the-road, dedicated, shuttle and logistics services. The carrier has terminals in New Ulm; Columbus, Ohio; and Tomah, Wis.
It ranks No. 16 on Transport Topics’ list of for-hire refrigerated carriers with revenue of $114 million.
Super Service is based in Grand Rapids, Mich., and has terminals in Florida, Georgia, Kentucky and Michigan. Super Service will be converted to an employee-owned firm after the deal closes.
