Financial terms of the deal were not disclosed.
Armstrong’s current executive leadership team, led by CEO Cameron Ramsdell, will remain in place and continue to hold a significant ownership stake in the company. The partnership with Quad-C is expected to provide Armstrong with additional resources to expand organically while also pursuing strategic acquisitions.
“We selected Quad-C because of their deep experience partnering with growth-oriented management teams in the transportation and logistics sector,” Ramsdell said in a news release.
Founded in 2006, Armstrong Transport Group operates a non-asset-based third-party logistics platform supported by a nationwide network of independent freight agents and direct brokers.
The company provides transportation services across several freight segments, including truckload, less-than-truckload, flatbed, heavy haul, temperature-controlled and cross-border freight throughout the United States, Canada and Mexico.
The investment comes as Armstrong marks its 20th year in business following several years of significant expansion.
According to a recent company post on LinkedIn, Armstrong generated approximately $440 million in revenue during its first 13 years of operation. By 2023, that figure had nearly doubled to more than $850 million.
The company says it is now on track to eventually surpass $2 billion in annual revenue, with much of that growth being driven by investments in technology, expansion into additional markets and continued growth of its freight agent network.
Tom Hickey, senior partner at Quad-C, said Armstrong’s ability to grow through multiple freight cycles played a major role in the investment.
“Armstrong’s remarkable long-term track record across different freight environments speaks to the quality of the leadership team and organization,” Hickey said.
Cross-border transportation has also become an increasingly important part of Armstrong’s business.
In a LinkedIn post Tuesday, the company said freight capacity between the U.S. and Mexico remains available, although market conditions can vary significantly depending on the lane. Armstrong said carriers are becoming more selective as uncertainty surrounding trade continues to create volatility in the cross-border market.
Armstrong currently offers bilingual freight coordination, access to CTPAT-certified carriers, customs documentation assistance, secure storage and cargo insurance for companies shipping freight between the two countries.
The Armstrong deal also adds another transportation and logistics company to Quad-C’s investment history.
Quad-C has previously invested in companies including 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 primarily on established service and industrial businesses.
The firm says it has invested approximately $4.9 billion across 91 platform companies and completed more than 418 add-on acquisitions.