Private investment firm Centerbridge Partners L.P. has reached an agreement to acquire TriMark USA from Warburg Pincus. Terms of the deal, which is expected to close in the third quarter of 2017, were not disclosed.
Since then, TriMark has grown both organically and through a variety of notable acquisitions, including its purchase of Hockenbergs earlier this year and last year’s deals to acquire RW Smith & Company and Adams Burch. For 2016, TriMark reported annual revenues of $1.5 billion, making it the country’s largest distributor of foodservice equipment and supplies, per FE&S’ 2017 Distribution Giants Study.
“We can now accelerate our vision as we begin this next phase of enterprising growth,” said Jerry Hyman, president a CEO of TriMark USA, in a release announcing the pending transaction that was posted to the dealership’s website.