WAYNE, PA — Argosy Private Equity acquired a controlling interest in K&L Freight Management, extending the investment firm’s logistics portfolio through a provider of time-sensitive freight services for food, life sciences, energy and other essential industries.
Financial terms were not disclosed.
K&L, founded in 1997 and based in St. Charles, Illinois, operates as an asset-light third-party logistics provider. Its services include expedited ground and air transportation, temperature-controlled shipping, flatbed freight and cross-border logistics.
The company relies on a network of independent carriers rather than owning a large transportation fleet, a structure intended to limit capital requirements while allowing it to coordinate specialized shipments.
K&L has completed two recent acquisitions to broaden its service offering and customer base. The company did not identify the acquired businesses or disclose their financial contribution.
Its senior management team will remain in place and invest alongside Argosy in the transaction.
K&L President Pat Draut indicated the partnership will support continued expansion while preserving the company’s combination of direct customer service and logistics technology.
“We also intend to continue pursuing opportunities with the same focus on execution that has defined K&L for nearly three decades,” Draut stated.
Argosy Partner Seth Wilson characterized K&L as a specialized logistics platform and identified further growth as a priority for the partnership.
Founder Russell Gallemore also endorsed the transaction, citing Argosy’s support for K&L’s customer relationships and operating culture.
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