Centerbridge Partners Is Said to Near $1.35 Billion TriMark Deal

  • Warburg Pincus selling food-services equipment distributor
  • Centerbridge now managing more than $20 billion in assets

Centerbridge Partners is closing in on what is expected to be a $1.35 billion purchase of food-services equipment distributor TriMark USA LLC, people with knowledge of the matter said.

The alternative investment firm founded by Jeff Aronson and Mark Gallogly has been in advanced talks to acquire the South Attleboro Massachusetts-based company, said the people, who asked not to be identified because the information is private. TriMark’s owner, Warburg Pincus, also received offers from firms including New Mountain Capital, the people said.

A spokeswoman for Warburg Pincus declined to comment. Representatives for Centerbridge didn’t immediately respond to emails seeking comment.

TriMark, led by Chief Executive Officer Jerry Hyman, provides non-food products including cooking equipment and kitchen-staff apparel to hotels, resorts and entertainment venues, according to its website. Warburg has backed the company with acquisitions since taking a stake in 2014, most recently buying Hockenbergs Food Service Equipment & Supply Co.

Centerbridge has more than $20 billion in assets under management across private equity, credit and real estate, according to its website. Last year it took a $230 million stake in car products maker Prestone Products Corp., according to data compiled by Bloomberg. In July Centerbridge announced a $1.26 billion joint purchase of data management software company Syncsort Inc. and Vision Solutions Inc.

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