TriMark USA

Summary

Created an industry leader in the national distribution of foodservice equipment and supplies through sourcing and integrating six add-ons acquisitions.

Background

Headquartered in South Attleboro, Massachusetts, TriMark USA (“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. Audax recognized the opportunity to create an industry leader with a national footprint.

Challenge

When Audax invested in TriMark in November 2006, TriMark was a leading distributor in the foodservice equipment market with a strong regional presence in New England and the Midwest. Audax recognized the potential to expand the platform nationally and enter into new markets to accelerate growth through national accounts and broader geographic coverage.

During Audax’ investment period, TriMark completed six add-on acquisitions across the US, bringing the company into the government, retail, institutional, and e-commerce channels. The acquisitions also expanded its footprint in the Midwest, Southeast, and West Coast. In 2010, TriMark launched the NexGen buying group to enhance its purchasing capabilities. NexGen enabled incremental synergies from add-on acquisitions and increased rebate income by >25% through better programs.

The Audax Difference

Working together with management, Audax grew TriMark into the nation’s largest foodservice equipment and supplies dealer and the only distributor with a national reach. Since Audax’ initial investment in TriMark in 2006, revenue nearly quadrupled to over $1.0 billion.

Recognizing the Company’s brand and operational value as the acquirer of choice in the foodservice equipment and supplies market, private equity firm Warburg Pincus acquired TriMark in August 2014


We had a successful partnership with Jerry Hyman and the rest of the TriMark team in fulfilling our vision of creating a national leader in the foodservice equipment and supplies market.”

  • Keith Palumbo Managing Director, Audax Group

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.”

  • Jerry Hyman CEO, TriMark USA