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Argosy Private Equity Takes Controlling Stake in K&L Freight Management

Argosy Private Equity has acquired a controlling interest in K&L Freight Management, an asset-light 3PL based in Charles, Illinois. The deal's financial terms were not disclosed.

K&L operates an expedited ground and air transportation network serving food and beverage, life sciences and energy sectors. The company offers time-sensitive flatbed services, cross-border logistics and temperature-controlled solutions through a network of vetted carriers.

Seth Wilson, partner at Argosy, cited K&L's differentiated platform and specialized logistics capabilities. The investment follows two recent acquisitions by K&L that expanded its service offerings and customer base.

K&L's management team, led by President Pat Draut, has invested alongside Argosy and will continue to lead the operation. The company plans to continue pursuing growth opportunities while scaling its platform.