Foodservice Equipment Reports
Manufacturer/Dealer Late Breaking News

New Owners For TriMark USA

A deal first announced August 1 is now official: Centerbridge Partners, a private investment management firm based in New York and London, has acquired TriMark USA from Warburg Pincus.

In exclusive comments, TriMark CEO Jerry Hyman told FER the acquisition is a show of confidence for the entire E&S industry. “TriMark has thrived by partnering with three (now four!) private equity groups,” he says. “With our first sponsor, Bradford Equities, we grew from $50 million revenue to over $250 million. Our second partner, Audax Group, helped us reach $1 billion. And in just three years with Warburg Pincus, we hit $1.8 billion in sales. I think it is validating for our entire industry that a fourth private equity company, Centerbridge Partners, would believe that there is still a lot of room for growth and make the investment that they did in TriMark. Our volume increases have always been 50% organic and 50% through acquisitions, and we intend to further that model in the next few years,” Hyman concluded.

During TriMark’s three-year partnership with Warburg Pincus, the South Attleboro, Mass., company’s grew to include 14 divisions by acquiring a number of smaller dealerships, including Hockenbergs Food Service Equipment & Supply, last February.

“Jerry Hyman and his team have been exceptional at providing high-quality customer service and growing the business organically and through acquisitions over the last several decades,” says Steve Silver, Senior Managing Director of Centerbridge. We are excited to partner with the company and its management team during its next growth phase and look forward to building upon its strong track record.”

Jeff Goldfaden, Managing Director, Warburg Pincus, adds, “TriMark has significantly advanced its leadership position in foodservice equipment and supplies distribution, serving a highly diversified customer base across a variety of attractive sectors. We are proud of our investment in the company and our partnership with CEO Jerry Hyman and his team to grow the business through a number of successful acquisitions and strategic initiatives. TriMark is well positioned for future growth and we wish the company continued success.”

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