Audax Group has completed the sale of TriMark USA to Warburg Pincus. South Attleboro, Massachusetts-based TriMark provides equipment to the food services industry. TriMark completed six add-ons during Audax’s ownership and increased revenue from $260 million to more than $1 billion since Audax first invested in 2006.
Audax Group has completed the sale of TriMark USA (“TriMark”) to Warburg Pincus, a private equity firm based in New York. Headquartered in South Attleboro, Massachusetts, TriMark is the largest provider of equipment, supplies and design services to the foodservice industry. TriMark serves the restaurant, institutional, government, hospitality, entertainment, and other foodservice markets.
TriMark completed six add-on acquisitions under Audax’ ownership, expanding the company into new end markets and geographies. Since Audax’ initial investment in TriMark in 2006, revenue has grown from $260 to over $1.0 billion and the company has become the nation’s largest foodservice equipment and supplies dealer.
Geoffrey S. Rehnert, Co-CEO of Audax Group, said: “Jerry and the TriMark team have done an exceptional job growing the company organically and through 6 acquisitions to create the clear leader in the industry and a company capable of serving both local markets and national accounts. We wish TriMark continued success on the next leg of growth with its new partner.”
Jerry Hyman, CEO of TriMark, said: “Audax Group’s expertise in helping us execute our buy and build strategy was essential for growing TriMark into the largest player in the industry.”
Jefferies & Company and Wells Fargo advised TriMark . Ropes and Gray served as legal counsel to TriMark, and Kirkland and Ellis served as legal counsel for Warburg Pincus.
About TriMark USA:
TriMark USA is the country’s largest provider of equipment, supplies and design services to the foodservice industry. TriMark offers foodservice operators an unparalleled level of service by combining the hands-on support and local market knowledge of a strong regional supplier with the purchasing strength, industry expertise, delivery, and installation capabilities of a national company.
TriMark Divisions include TriMark United East in South Attleboro, MA; TriMark Strategic in Coppell, TX with locations in Texas, Florida, Georgia, Tennessee, and Minnesota; TriMark Marlinn in Chicago, IL; TriMark SS Kemp in Cleveland, OH, Pittsburgh, PA, and Cincinnati, OH; TriMark Foodcraft in Winston-Salem, NC; TriMark Century Concepts in Peachtree Corners, GA; TriMark Raygal in Irvine, CA; TriMark Economy Restaurant Fixtures in San Francisco and Sacramento, CA; TriMark in Crofton, MD, TriMark Gill Marketing in Phoenix, AZ; TriMark RobertClark in Irvine, CA; TriMark Federighi Design in Richmond, CA; and BigTray in San Francisco, CA.
About Audax Group