Arrive Logistics Deal: No Debt, More Growth

Arrive Logistics’ new majority-owner deal comes with no debt and a plan to push growth harder. CEO Matt Pyatt breaks down why the company took Mubadala Capital’s investment, what changes internally, and why Arrive still sees a freight market that’s vulnerable to disruption. Pyatt also lays out Arrive’s scale — north of $4.5 billion in truckload business and 8,000 loads a day — plus his read on rates, capacity and where Q4 could go from here.

Arrive Logistics has closed a majority-stake investment from Mubadala Capital, an independent entity majority-owned by the Abu Dhabi sovereign wealth fund, in a deal the company’s CEO described as 100% equity with no debt used to finance the transaction. The agreement positions Arrive to accelerate hiring, expand its trailer fleet, and push into new customer verticals without the earnings pressure that comes with a public listing.

Arrive CEO and co-founder Matt Pyatt said the 10-month process was designed to rationalize the company’s investor base, giving existing backers — including LeadEdge Capital, which joined in 2018, and ATL Partners and its co-investors, who came aboard in 2021 — the option to either reinvest or exit. “We’re basically just reloading the gun, so to speak, and allowing us to continue to invest in our business,” Pyatt said.

The brokerage is on pace to move more than $4.5 billion in truckload volume this year at a run rate north of 8,000 loads per day. Pyatt said load volume grew 25% to 27% in 2024 and is up more than 20% year over year in 2025, more than doubling since 2022. The company hired 500 people in 2024 and 650 so far in 2025, and Pyatt said the total headcount added this year will reach roughly 1,000.

“You can’t optimize the P&L and maximize growth. And so it’s a blend — you don’t ever want to burn cash, but you want to have a fine line of like, are you deploying tangible investments that you know you’re going to get an ROI on, while continuing to take market share,” Pyatt said.

A major deployment target is the drop-trailer segment. Pyatt noted that for-hire truckload is roughly a $500 billion market, with approximately half of that volume moving on drop trailer — a segment where brokers have historically captured only 2% to 3% of share. Arrive currently operates 700 to 800 trailers and plans to invest significantly to grow that asset base. The company also flagged the small and medium-sized business shipper segment and healthcare verticals as underpenetrated opportunities.

On freight security, Pyatt said Arrive has built a 45-person team covering fraud, claims, and compliance. The brokerage works with only 9% of the roughly 450,000 carriers in its vetting system, requires carriers to have at least one year in business, and routes 93% of loads through carriers it averages loading 15 times per month. “Since the beginning of the year, I think we went 900,000 loads without a single theft,” Pyatt said.

On the broader market, Pyatt said rates likely peaked in July, expects them to settle in the third quarter, and sees normal seasonality potentially pushing rates back to July levels in the fourth quarter. He argued the floor in a future downturn will be meaningfully higher than the last cycle — roughly $1.95 to $2.05 per mile plus fuel on dry van, compared to the $1.60 to $1.65 plus fuel lows seen in 2023 through 2025 — because capacity has not returned to the market at the pace seen after the COVID-era surge.

• Mubadala Capital takes majority stake in Arrive Logistics in an all-equity deal with no debt, giving the $4.5B brokerage long-term growth runway outside public-market pressure.
• Arrive plans to hire roughly 1,000 employees in 2025 and is targeting the drop-trailer market — where brokers hold just 2-3% share — plus SMB shippers and healthcare verticals.
• Pyatt forecasts a dry van rate floor of $1.95–$2.05 per mile plus fuel in the next downturn, well above the $1.60–$1.65 lows of the recent cycle, as excess capacity fails to return.

This Summary is generated thanks to a transcription of the interview, for the full interview please enjoy the video above.