AArmstrong Transport Group arranges freight transportation for shippers across North America through a brokerage model that matches customer loads with approved outside carriers. It coordinates full truckload and smaller shipments, along with refrigerated, flatbed, heavy-haul and cross-border freight. Its proprietary web platform lets customers request rates, track shipments and manage invoices, while independent agent offices use its back-office services to run their businesses. Customers pay agreed shipping rates, and Armstrong manages carrier arrangements, billing and collections. Founded in 2006, Armstrong is headquartered in Charlotte, North Carolina.
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Company Size
201-500
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Total Funding
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Headquarters
Charlotte, NC
Founded
2006
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Barings has provided senior secured credit facilities to support Quad-C's acquisition of Armstrong Transport Group. Armstrong is a Charlotte-based logistics platform operating through an independent agent network, connecting commercial shippers with carriers across the US, Canada, and Mexico. The company offers full truckload heavy-haul, flatbed, temperature-controlled, and less-than-truckload services. Armstrong generates approximately $1.5 billion in annual revenue and ranks among the top 15 freight brokerages in North America. Founded in 2006, Armstrong operates through a nationwide network of independent agency offices and direct brokers. Barings, a $502 billion global alternative asset manager, served as administrative agent for the financing. Quad-C is a Charlottesville-based middle market private equity firm that has invested $4.9 billion across 91 platform companies since 1989.
Barings provides financing to back Quad-C's investment in Armstrong Transport Group. Barings, one of the world's leading alternative investment managers, announced today that it served as administrative agent of senior secured credit facilities to support Quad-C's acquisition of Armstrong Transport Group ("Armstrong" or "the Company"). Armstrong is a leading logistics platform that operates primarily through an independent agent network to connect commercial shippers with full truckload (FTL) heavy-haul, flatbed, temperature-controlled, and less-than-truckload (LTL) carriers across the United States, Canada, and Mexico. "Barings is excited to partner with Quad-C through the acquisition of Armstrong, and we look forward to continuing to support Quad-C with financing solutions across future acquisitions," said Doug Koch, Managing Director in Barings' North America Direct Lending Group. "Armstrong has clearly demonstrated a differentiated service offering in third-party logistics (3PL), a core area of focus at Quad-C," said Michael Brooks, Partner, Quad-C. "The Company's relentless focus on empowering agents and brokers, partnership mindset with carriers and shippers, and significant investment in technology represents a compelling value proposition that has allowed Armstrong to consistently outperform the market. We are excited to support the management team in the next stage of expansion." About Barings Barings is a $502 billion* global alternative asset manager that partners with institutional, insurance and wealth clients and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual with a minority investment from MS&AD, seeks to deliver excess returns by leveraging its global scale and capabilities across credit, real assets, capital solutions and emerging markets. *As of June 30, 2026 About Armstrong Transport Group Founded in 2006 and headquartered in Charlotte, North Carolina, Armstrong is a leading logistics platform offering truckload, less-than-truckload and cross-border brokerage solutions. The company serves the market through a nationwide network of independent agency offices and direct brokers. Celebrating its 20th year in business, Armstrong was recently ranked among the top 15 freight brokerages in North America by Transport Topics with approximately $1.5 billion in annual revenue. For more information, please visit www.armstrongtransport.com. About Quad-C Founded in 1989 and headquartered in Charlottesville, Virginia, Quad-C is a middle market private equity firm focused on investing in established services and industrials companies. In its three-decade history, Quad-C has invested $4.9 billion of capital in 91 platform companies and over 418 add-on acquisitions. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value. For more information, please visit www.quadcmanagement.com. 26-5765331
Top 10 logistics capital raises and investors in the U.S. - june 1st to 30th, 2026. Several interesting transactions closed in the Logistics sector over the past month. If you would like more info or would like to discuss the capital raising market for your company, please contact me. PE Growth/Expansion * Armstrong Transport Group, third-party logistics company that provides freight brokerage services via a network of independent agents and employees, received $21 million of development capital from Quad-C Management. Merger/Acquisition * Despir Logistics, transportation logistics services for time-sensitive and mission-critical cargo, was acquired by C.H. Robinson Worldwide for $75 million. * King Courier, courier and delivery services that cater to businesses and individuals, enabling fast and reliable transportation of time-sensitive items, was acquired by Mercury Business Services. Later Stage VC * DEXA, autonomous drone delivery aircraft for transporting goods from local businesses to nearby customers, raised $2.70 million of venture funding from investors. * Maalexi, proprietary cross-border marketplace that simplifies the import and export of food and agricultural products, raised $2.8 million of venture funding in a deal led by Tawuniya. Early Stage VC * Derya, artificial intelligence-based freight management software that streamlines logistics operations, raised EUR 1.1 million of venture funding from 212, Y Combinator and Umur Cubukcu. * Goodlane Logistics, freight brokerage services that support independent agents with operational tools and growth resources, raised venture funding from Mythos Ventures. * SwiftX, logistics platform that provides domestic and cross-border e-commerce delivery services, raised venture funding from Hike Capital. Seed Round * Return Valets, in-building return concierge services that simplifies logistics for residents, raised $2.44 million of seed funding from investors. * Rovex Technologies, autonomous mobile robots that transform hospital transport and improve patient flow, raised $4.06 million of seed funding in the form of SAFE notes. #castleplacement #capitalraising #privateequity #venturecapital #investment #logistics Anna moisuc. Managing director. Please contact me if you have any questions or would like to discuss your capital raise: Send Castle Placement, LLC a message: Sources: Information on this page was derived from a variety of sources including Bloomberg, Company Websites, Crunchbase, PitchBook and other news outlets. Castle Placement(R) does not warrant or guarantee this information, nor makes any representations as to the accuracy of the information. For more Risks, see CPGO Risks and Disclaimers.
Carousel Capital has successfully exited its investment in Armstrong Transport Group, a leading logistics platform operating across the United States, Canada and Mexico. Quad-C Management has acquired a majority stake in the company, though financial terms were not disclosed. Carousel initially partnered with Armstrong's management in 2019 as the company's first institutional investor. Under this partnership, Armstrong grew into one of the largest freight brokerages in North America by leveraging its independent agent network to connect shippers with various carrier types. The company differentiated itself through a service-first culture and technology-focused approach, continuing to invest in people and infrastructure during the freight recession whilst competitors retracted. Harris Williams and Citizens JMP Securities served as financial advisers, with K&L Gates providing legal counsel.
Quad-C Management has announced its investment in Armstrong Transport Group, a logistics platform connecting commercial shippers with carriers across the United States, Canada and Mexico. Terms of the transaction were not disclosed. Founded in 2006 and headquartered in Charlotte, North Carolina, Armstrong operates primarily through an independent agent network, offering full truckload, flatbed, temperature-controlled and less-than-truckload services. The company recently ranked among the top 15 freight brokerages in North America with approximately $1.5 billion in annual revenue. Armstrong's executive management team will retain significant ownership and remain in their current roles. The partnership aims to accelerate growth both organically and through strategic acquisitions. The investment represents Quad-C's latest move in the transportation and logistics sector, following previous investments in MNX Global Logistics and AIT Worldwide Logistics.
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Industries
Company Size
201-500
Company Stage
N/A
Total Funding
N/A
Headquarters
Charlotte, NC
Founded
2006
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