Argosy Private Equity has acquired a controlling stake in K&L Freight Management, a St. Charles, Illinois-based third-party logistics provider founded in 1997. No financial terms were disclosed.

K&L specializes in mission-critical freight services for the food & beverage, life sciences, and energy sectors. The company's existing senior management team will remain in place and is investing alongside Argosy in the transaction.

The deal reflects continued private equity appetite for niche logistics operators with sticky, regulated-industry customer bases. Argosy's platform strategy likely envisions add-on acquisitions to expand K&L's geographic reach and service capabilities.

Management co-investment signals confidence in the growth trajectory, though the absence of valuation metrics makes it difficult to assess entry multiples. The focus on time-sensitive freight for essential industries provides a degree of recession resistance that remains attractive in the current fundraising environment.