TriMark USA Gains Investment To Fund Growth

The $350M deal will enhance its financial position, support further investment in its capabilities and advance its growth strategy.

Trimark 6 9 2022
TriMark's showroom in Columbus, Ohio. Photo courtesy of TriMark USA.

TriMark USA announced today that it has entered into an agreement with a group of existing lenders to support a transaction that will “substantially deleverage its balance sheet,” the company says in the release. The group, led by Ares Management, Oaktree Capital Management and Bayside Capital, would lead a $350 million cash equity investment in the company through funds they manage.

“These actions are expected to significantly enhance TriMark’s financial position, support further investment in its leading capabilities and advance its long-term growth strategy,” the company says.

In a statement, TriMark CEO Thomas Wienclaw adds, “We are pleased to have the support of Ares, Oaktree and Bayside, which we believe will put TriMark on a significantly stronger financial footing. By deleveraging the company’s balance sheet and receiving this new capital, we better position TriMark to continue executing on our growth strategy, providing excellent service to our customers, and building on our track record of industry leadership for the benefit of all our stakeholders.”

The transaction is expected to close in early January. Based in Mansfield, Mass., TriMark ranks No. 2 in FER’s 2023 Top Dealers Report. Earlier this month, the dealership announced its new senior vice president of operations, Danny Austin.

 

 

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