Trinity Consultants aims for further growth with new owner
Levine Leichtman Capital Partners (LLCP), an LA-based private equity firm, has sold its ownership stake in Trinity Consultants to Oak Hill Capital, another US private equity firm.
Founded in 1974 and headquartered in Dallas, Trinity Consultants delivers consulting services in environmental, health, and safety (EHS), engineering, and sciences. The firm has particular expertise in compliance-driven air quality consulting.
The company has more than 1,000 professionals across 70+ offices in the US, Canada, UK, Ireland, China, Australia, and New Zealand.
LLCP acquired a majority stake in Trinity in September 2015, when the firm had approximately 450 employees in 48 offices. In the next six years, the private equity owners helped Trinity complete 17 acquisitions and more than double in size.
“The Trinity Consultants investment has been very successful for both LLCP and the Company’s employee shareholders, driven by organic growth and the execution of strategic M&A which has expanded its service offerings, end markets and geographic breadth,” Andrew Schwartz, partner at LLCP, said. “We are excited for the future of Trinity Consultants and wish the team continued success in their next chapter with Oak Hill.”
The sale marks LLCP’s sixth recent successful exit. The mid-market private equity firm targets franchising, professional services, education, and engineered products sectors. It manages $8.5 billion in assets and has invested in over 90 portfolio companies.
“LLCP has been a tremendous partner as we strategically scaled our business and established a global platform poised for continued growth. We benefited significantly from their management-centric approach, valuable strategic insights, and support of both organic growth initiatives and accelerated M&A efforts,” said Jay Hofmann, president and CEO of Trinity.
As part of the sale to New York-based Oak Hill Capital, Trinity employees will maintain a significant minority ownership. Financial terms of the transaction were not disclosed.
Oak Hill targets companies in industrials, services, media and communication, and consumer verticals. The firm has invested in over 100 private equity transactions and manages funds with over $17 billion in initial capital commitments.
"Trinity has a long track-record of above market organic growth and is well positioned to benefit from an increasingly complex regulatory environment going forward," said Jeff Mettam, principal at Oak Hill. "Additionally, we are excited to support the Company as it continues to expand into new geographies and service offerings through accretive M&A."
