Warburg Pincus previously sold Scotsman to the Ali Group.
In a deal set to close next month, private equity firm Warburg Pincus has agreed to purchase TriMark USA from Audax Group. The South Attleboro, Mass.-based TriMark USA reported sales of $944 million for 2013, making it the industry’s largest foodservice equipment and supplies dealer, according to FE&S’ 2014 Distribution Giants Study.
It will be business as usual for TriMark’s 12 operating divisions and their customers, according to a release from the dealership.
“With the added wherewithal of a larger private equity sponsor, 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,” said Jerry Hyman, president and CEO for 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.”
Warburg Pincus is no stranger to the foodservice equipment industry. In May 2009 the venture capital firm purchased Scotsman Industries before selling it in November 2012 to the Ali Group.