Audax seals 3x return exiting TriMark USA to Warburg Pincus


TriMark USA 2The Audax Group has reportedly tripled its initial investment in TriMark USA by selling the company to fellow private equity firm Warburg Pincus after an eight-year holding period.

Financial terms were not disclosed by Audax, but peHub reported the exit multiple citing an unnamed source.

Audax bought the business in 2006 through its $700m second fund, which it closed a year earlier.

In the time the company, which provides restaurant and food services equipment, design and remodelling services, has grown its revenues from $260m to more than $1bn.

Audax co-CEO Geoffrey Rehnert 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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