Argosy Private Equity has acquired a controlling interest in K&L Freight Management.
The transaction gives Argosy a platform in the specialized third-party logistics (3PL) market, where K&L provides mission-critical freight services for customers in the food and beverage, life sciences, energy, and other resilient industries. The existing senior management team, including President Pat Draut, will remain with the business and invest alongside Argosy to support the company’s next phase of growth.
Founded in 1997 and headquartered in St. Charles, Ill., K&L Freight Management is an asset-light logistics provider offering expedited ground and air transportation, temperature-controlled shipping, time-sensitive flatbed services, and cross-border logistics services. The company serves non-discretionary end markets through a curated network of vetted carrier partners and has recently completed two acquisitions to broaden its service offerings and expand its customer base.