H.I.G. Capital completed the acquisition of the correctional services business, Trinity, of Compass Group PLC. Operating under the brand names Trinity Services Group and Canteen Corrections, Trinity is one of the three largest providers of outsourced food service and commissary services to the corrections industry. Going forward, the business will operate under the name "Trinity Services Group." Compass Group will retain a meaningful ownership stake in Trinity.
With revenues of more than $300 million, Trinity provides outsourced food and commissary services to more than 200,000 inmates at over 300 correctional facilities across 33 states (including Puerto Rico and the US Virgin Islands). By utilizing its procurement, distribution and human resource expertise, the Company delivers high quality meals to correctional facilities for less than they could on their own, thereby helping to relieve governmental budgetary pressures. The existing management team is led by Larry Vaughn, Trinity's founder, who said, "I am very excited to be embarking on the next stage of Trinity's growth. As a standalone business with the backing of both H.I.G. and Compass Group, we are well equipped to cement our position as the preeminent player in our industry."
H.I.G. Capital is a leading global private equity investment firm based in Miami. The firm has more than $8.5 billion of capital under management. H.I.G. specializes in providing capital to small and medium sized businesses and has offices in Atlanta, Boston, Chicago, Dallas, New York and San Francisco, as well as international offices in Hamburg, London, Madrid, Paris and Rio de Janeiro.
