M&A Deal Summary

Centerbridge Partners Acquires TriMark

On August 1, 2017, asset manager Centerbridge Partners acquired distribution company TriMark from Warburg Pincus

Acquisition Highlights
  • This is Centerbridge Partners’ 1st transaction in the Distribution sector.
  • This is Centerbridge Partners’ 26th transaction in the United States.
  • This is Centerbridge Partners’ 3rd transaction in Massachusetts.

M&A Deal Summary
Date 2017-08-01
Target TriMark
Sector Distribution
Buyer(s) Centerbridge Partners
Sellers(s) Warburg Pincus
Deal Type Secondary Buyout
Advisor(s) Barclays Investment Bank
Jefferies (Financial)
Kirkland & Ellis (Legal)

Target

TriMark

South Attleboro, Massachusetts, United States
TriMark is a full service distributor of food service equipment and supplies and a provider of design and engineering services to over 10,000 customers nationwide, including restaurant, healthcare, entertainment, and other food service venues and facilities. TriMark USA, Inc. was established in 1998 and is based in South Attleboro, Massachusetts.

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Buyer(S) 1

Buyer

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 2005
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 30 of 47
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 18 of 27
State (Massachusetts) 3 of 4
Country (United States) 26 of 39
Year (2017) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-06 Precisely

Burlington, Massachusetts, United States

Precisely is a provider of data integrity software. The Company provides accuracy, consistency, and context in data for 12,000 customers in more than 100 countries. Precisely’s data integration, data quality, data governance, location intelligence, and data enrichment products power better business decisions to create better outcomes. Precisely is based in Burlington, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-01 Sompo Canopius

Zurich, Switzerland

Sompo Canopius writes global specialty lines (re)insurance with close to $100bn total assets and one of the top three Japanese insurers. Sompo Canopius underwrites a diversified portfolio of business from its operations at Lloyd's and around the world. It has achieved significant growth since its foundation through a mix of organic expansion and acquisition and is one of the top 10 insurers in the Lloyd’s insurance market, writing premiums in excess of $2 billion.

Buy $952M

Seller(S) 1

SELLER

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.

DEAL STATS #
Overall 149 of 251
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 20 of 42
State (Massachusetts) 5 of 7
Country (United States) 90 of 137
Year (2017) 11 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 Evidon

New York, New York, United States

Evidon, Inc. is a technology company focused on simplifying the complex world of Digital Governance. Fulfilling this promise requires organisations to have a comprehensive approach to govern data collection across their websites, applications and ads while complying with global regulations. Evidon, Inc. was established in 2009 and is based in New York, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-09 Melinta Therapeutics

New Haven, Connecticut, United States

Melinta Therapeutics is a molecule drug discovery and development company focused on the structure-based design of new classes of antibiotics.

Sell -
Mergr

Product

Company

Legal