Argosy Private Equity Acquires Controlling Stake in K&L Freight
Argosy Private Equity has acquired a controlling interest in K&L Freight Management, a St. Charles, Illinois-based asset-light third-party logistics provider specializing in time-sensitive, mission-critical freight for the food and beverage, life sciences, and energy industries. The existing senior management team is continuing with the company and co-investing in the transaction alongside Argosy.
Founded in 1997, K&L offers expedited ground and air freight, temperature-controlled logistics, time-sensitive flatbed, and cross-border solutions. The company has completed two recent acquisitions ahead of the Argosy investment, broadening its service capabilities and customer base ahead of what both sides describe as a platform-building phase.
“We are looking forward to partnering with Argosy as we continue to scale the K&L platform. We also intend to continue pursuing opportunities with the same focus on execution that has defined K&L for nearly three decades,” Pat Draut, president, K&L Freight Management.
Seth Wilson, partner at Argosy Private Equity, said the firm was drawn to K&L’s differentiated service-oriented platform and specialized logistics capabilities, and described the investment as focused on supporting the next phase of the company’s growth alongside its senior team. Financial terms were not disclosed.
