|By Business Wire||
|March 20, 2014 06:00 AM EDT||
H.I.G. Capital, L.L.C. (“H.I.G.”), a leading global private equity firm with more than $15 billion of capital under management, announced today that its portfolio company, Trinity Services Group (“Trinity”), has completed the acquisition of Swanson Services Corporation (“Swanson”), a leading national provider of commissary products and integrated software services to correctional facilities.
Based in Denver, Colorado, Swanson has been owned and operated by three generations of the Swanson family since its founding in 1983. With its industry-leading commissary services, innovative resident banking software and cutting-edge kiosk communication solutions, the Company is committed to driving efficiencies and cost savings at correctional facilities. Over its thirty year history as a pioneer in correctional fiduciary technology, Swanson has achieved significant growth and has established a strong national presence with over 500 clients in 41 states.
“With the acquisition of Swanson completed, we are excited to expand our secure commissary operations to new markets and clients, while offering a growing array of services and improved buying power to our current customers,” commented Jim Long, CEO of Trinity Services Group. “We will spend the coming months building on the combined strengths of both companies to form a truly relationship-focused organization that is a proud partner to the corrections industry.”
“Swanson was built on a history of long-term, mutual partnerships and this is an exciting nod to that legacy,” added Kelly Swanson, President of Swanson Services Corporation. “We also believe our current commissary clients will benefit from Trinity’s impressive Food Service programs that will provide an attractive suite of services, helping many jails continue to ease the financial pressures they face.”
“Trinity is committed to exceeding its clients’ expectations through high-quality, comprehensive, and cost-effective solutions,” commented Jeff Zanarini, a Managing Director of H.I.G. “The Swanson acquisition adds tremendous value to the Trinity network value proposition through an industry leading technology platform, best-in-class customer service, and significant operating efficiencies of the combined organizations. We are very excited to be launching this next phase of Trinity’s growth.”
About Trinity Services Group
Trinity Services Group is one of the nation’s largest providers of food service, commissary and technology services to the corrections industry. Founded in 1990, Trinity provides support services to 400 correctional facilities across 33 states, Puerto Rico and the U.S. Virgin Islands. By consistently delivering quality support services, Trinity Services Group has helped correctional facilities maintain quality, improve morale, ensure secure operations, and reduce taxpayer costs. Headquartered in Oldsmar, FL, Trinity has regional offices throughout the country. For more information, please visit www.trinityservicesgroup.com.
About H.I.G. Capital
H.I.G. is a leading global private equity investment firm with more than $15 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.