en.Wedoany.com Reported - Quad-C Management, Inc. ("Quad-C"), a middle-market private equity firm, announced an investment in Armstrong Transport Group ("Armstrong" or the "Company"), a logistics platform that connects commercial shippers in the United States, Canada, and Mexico with carriers for full truckload, heavy haul, flatbed, temperature-controlled, and less-than-truckload services through an independent agent network. The terms of the transaction were not disclosed.
Founded in 2006, Armstrong provides a freight brokerage platform for freight participants through a service-first culture, entrepreneurial spirit, and technology-forward approach. Quad-C will partner with Armstrong's executive management team, which will continue in its current roles and retain significant ownership in the company. This partnership is expected to enable Armstrong to reinvest capital and accelerate growth through organic expansion and strategic acquisitions.
Cameron Ramsdell, CEO of Armstrong, said the company is excited to have the opportunity to work with a team that deeply understands its model and aligns with its mission statement. He noted that Quad-C was chosen for its extensive experience partnering with growth-oriented management teams in the transportation and logistics sector and for supporting the company's ongoing vision of combining talent with technology to deliver an unparalleled experience for shippers and carrier partners.
Tom Hickey, Senior Partner at Quad-C, stated that Armstrong's long-term track record across various freight environments is a testament to the quality of its leadership team and organization. Michael Brooks, Partner at Quad-C, added that Armstrong has demonstrated differentiated service capabilities in the third-party logistics space, a core area of focus for Quad-C. The company's focus on empowering agents and brokers, its collaborative mindset with carriers and shippers, and its significant investment in technology create a compelling value proposition that enables it to consistently outperform the market.
Spencer Burkholder, Principal at Quad-C, added that Quad-C is privileged to partner with some of the best operators in the third-party logistics sector and looks forward to continuing this tradition through its collaboration with Armstrong's management team to help the company achieve its strategic goals.
This investment in Armstrong is Quad-C's latest move in the transportation and logistics sector. Past investments include MNX Global Logistics, AIT Worldwide Logistics, and Worldwide Express.
Founded in 1989 and headquartered in Charlottesville, Virginia, Quad-C is a middle-market private equity firm focused on investing in established service and industrial companies. Over its more than thirty-year history, Quad-C has invested $4.9 billion in 91 platform companies and over 418 add-on acquisitions.
Founded in 2006 and headquartered in Charlotte, North Carolina, Armstrong provides full truckload, less-than-truckload, and cross-border brokerage solutions. The company serves the market through a nationwide network of independent agent offices and direct brokers. Recently, Armstrong was ranked among the top 15 freight brokerage firms in North America by Transport Topics, with annual revenue of approximately $1.5 billion.
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