Audax Group Announces the Sale of TriMark USA

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-Chief Executive Officer, 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.”
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Jerry Hyman, CEO, 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.