Argosy Private Equity acquires K&L Freight Management
Based in St. Charles, Illinois, the asset-light third-party logistics provider handles time-sensitive, mission-critical freight for food and beverage, life sciences, and energy customers.
Takeaways
- K&L Freight Management is a asset-light third-party logistics provider specializing in time-sensitive, mission-critical freight services.
- Argosy Private Equity is acquiring K&L Freight Management.
- The target serves Food & Beverage, Life Sciences, Energy, and other non-discretionary industries across Illinois.
Argosy Private Equity has acquired a controlling interest in K&L Freight Management, an asset-light third-party logistics provider specializing in time-sensitive, mission-critical freight services.
Founded in 1997 and based in St. Charles, Illinois, the company serves customers in food and beverage, life sciences, energy, and other non-discretionary industries, and has completed two recent acquisitions to broaden its service offering and customer base.
Senior management, including President Pat Draut, is staying and investing alongside Argosy.
"Since founding K&L in 1997, we have strived to build a company that continues to earn our customers' trust with every shipment.
In Argosy, we believe we have found a partner who values that culture and the relationships behind it, and I'm confident they and our team will carry it forward," said Russell Gallemore, Founder of K&L Freight.
Argosy plans to partner with management to scale K&L through organic growth and add-on acquisitions, building on the company's track record in time-critical logistics.
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