Private equity firm Gryphon Investors is to sell its portfolio company Trinity Consultants to an affiliate of Levine Leichtman Capital Partners. Terms of the transaction have not been disclosed.
Trinity, which Gryphon acquired in partnership with management in 2011, is a leading environmental consulting firm which specialises in providing air quality compliance and permitting services to its private sector clients across 48 offices in the US, Canada, China, the Middle East and the UK. The Company also provides other high value environmental consulting services related to environmental health & safety (EHS) performance and risk management, occupational health and toxicology, and aquatic sciences, while also supporting its clients’ EH&S training staffing needs and implementing technology solutions for EH&S information management systems and modelling analyses.
Working with Gryphon and Chairman Peter Regan, the Company expanded its service offerings to include industrial hygiene, toxicology, and aquatic ecology, entered new markets including Canada and the Middle East, and completed 10 acquisitions, while continuing to increase its market share.
“We are delighted to have partnered with the Trinity management team and to have supported their efforts to grow and evolve this market-leading company. We are excited that this exit positions Trinity for continued success, while also generating highly attractive returns for Gryphon’s limited partners and co-investors,” says Nick Orum (pictured), Gryphon’s Co-Founder and President.
Gryphon Partner and Business Services Group head Alex Earls added, “We thoroughly enjoyed working with the Trinity management team during the past four years and are pleased to have helped them exceed their operational and financial goals. We wish them the best as they continue to build Trinity into the leading environmental consulting firm.”
Trinity CEO Jay Hofmann says: “Gryphon and Pete Regan have been great partners for Trinity and I appreciate their value-added support as we built the Company into a stronger, more diverse organization. We are looking forward to having a similarly strong partnership with Levine Leichtman as we continue to execute on Trinity’s growth plan.”
William Blair acted as lead advisor to Gryphon and the Company, while Harris Williams and Lincoln International served as co-advisors on the transaction. Kirkland & Ellis LLP and Gibson Dunn LLP served as company counsel on the transaction.
