TriMark Completes $350M Transaction With Lenders

TriMark USA announced Jan. 16 that it has completed its transaction with a group of its lenders to substantially deleverage its balance sheet. The dealership first announced the transaction in December. The group, led by Ares Management, Oaktree Capital Management and Bayside Capital through funds they manage, has provided a $350 million cash equity investment in the dealership.

TriMark says in the release that it now “moves forward with a significantly enhanced financial position to support further investment in its leading capabilities and advance its long-term growth strategy for the benefit of its customers and other stakeholders.”

Meanwhile, Thomas Wienclaw, TriMark’s CEO, adds, “This investment marks an important milestone for TriMark and our position as a leading equipment and supplies distributor in the foodservices industry. With the support of Ares, Oaktree and Bayside, we have significantly deleveraged the Company while securing substantial new capital to invest in our long-term growth strategy. We thank our investors for their support, and I look forward to the exciting opportunities ahead as our team continues to provide excellent service to our customers.”