Foodservice Equipment Reports

TriMark USA To Be Acquired By Warburg Pincus

TriMark USA, the nation’s largest E&S distributor, likely will be under new ownership by the end of August. Warburg Pincus, a private equity firm, has entered into an agreement to acquire the South Attleboro, Mass., firm from Audax Group.

Since partnering with equity firm Audax eight years ago, TriMark has grown from a $250 million company to more than $1 billion in revenue, according to Jerry Hyman, pres./CEO of TriMark USA. “I have full confidence that Warburg Pincus, with the additional resources they bring to the table, will help us reach new heights never before seen in our industry,” he said in a statement announcing the agreement.

TriMark reported sales of $914 million last year, putting it in the top spot of FER’s 2014 Top Dealers rankings. It will be business as usual for customers of and employees at TriMark’s 12 operating divisions; the pending transaction is aimed at ensuring continued stability and financial support as TriMark ramps up future expansion plans and acquisition strategies.

“With the added wherewithal of a larger private equity sponsor,” Hyman said, “we will be in a position to accelerate our growth by acquiring companies that complement our business and share our commitment to helping customers succeed.”

The transaction is expected to close at the end of August.

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