TriMark USA Signs Agreement; Anticipates $350 Million Equity Investment to Fund Growth

Mansfield, MA - December 19, 2023

TriMark USA, LLC (“TriMark” or the “Company”), a leading provider of design services, equipment, and supplies to the foodservice industry, announced today that it has entered into an agreement with a group of its existing lenders to support a transaction that will substantially deleverage its balance sheet. In connection with the transaction, the group, led by Ares Management (“Ares”), Oaktree Capital Management (“Oaktree”), and Bayside Capital 
(“Bayside”), would lead a $350 million cash equity investment in the Company through funds they manage. These actions are expected to significantly enhance TriMark’s financial position, support further investment in its leading capabilities, and advance its long-term growth strategy.  
 
“We are pleased to have the support of Ares, Oaktree and Bayside, which we believe will put TriMark on a significantly stronger financial footing,” said Thomas Wienclaw, TriMark’s Chief Executive Officer.
“By deleveraging the Company’s balance sheet and receiving this new capital, we better position TriMark to continue executing on our growth strategy, providing excellent service to our customers, and building on our track record of industry leadership for the benefit of all our stakeholders. I’d like to thank our investors for their confidence in the opportunities ahead for TriMark.” 

The transaction is expected to close in early January, subject to closing conditions. Terms of the transaction were not disclosed.