Trinity Hunt Partners: Company Profile

Background

Trinity Hunt Partners is a Dallas-based private equity firm specializing in the growth and development of middle-market companies within the business, healthcare, and consumer services sectors. With over $2 billion in assets under management, the firm is dedicated to transforming entrepreneurial services companies into market leaders by providing strategic, operational, and financial expertise. Trinity Hunt has a history of over 17 years, during which it has invested in more than 27 platform companies.

Key Strategic Focus

Trinity Hunt Partners employs a thematic investment strategy, focusing on small-cap companies in the business, healthcare, and consumer services subsectors. The firm aims to drive transformational growth by partnering with founder-owned companies and leveraging its expertise to scale businesses both organically and through strategic acquisitions. This approach emphasizes building market leaders by enhancing operational capabilities and expanding service offerings.

Financials and Funding

In September 2021, Trinity Hunt Partners closed its sixth fund, Fund VI, at its hard cap of $460 million in capital commitments, exceeding the initial target of $400 million. The fund attracted a diverse group of investors, including insurance companies, pension funds, endowments, foundations, consultants, fund of funds, family offices, and high-net-worth individuals. The capital is intended to support the firm's investment strategy of partnering with small-cap companies to drive growth and expansion.

Pipeline Development

Trinity Hunt Partners has a robust pipeline of investments across various sectors:

• Healthcare Services: In May 2023, the firm made a majority investment in Centricity Research, a clinical research services provider specializing in Phase I-IV clinical trials across more than 40 therapeutic areas. Centricity operates over 35 locations in the U.S. and Canada and has conducted more than 2,500 studies leading to over 100 FDA and Health Canada drug approvals.

• Digital Marketing: In June 2023, Trinity Hunt acquired REQ, a digital marketing and advertising company serving prominent brands. REQ joined other acquisitions like Exclusive Concepts and Highnoon to form a scalable growth platform in the digital marketing industry.

• Commercial HVAC Services: In April 2023, the firm invested in Alliance Group, a provider of commercial heating, ventilation, and air conditioning (HVAC) system services. Alliance serves over 500 clients across the Northeast, offering a comprehensive suite of services including electrical, plumbing, construction, and building automation.

• Healthcare Advisory: In March 2024, Trinity Hunt invested in Coker Group, a healthcare advisory firm offering performance transformation, transaction advisory, and compliance consulting services. This investment marked the establishment of a healthcare advisory platform aimed at expanding strategic service capabilities.

Technological Platform and Innovation

Trinity Hunt Partners focuses on investing in companies that leverage innovative technologies and methodologies to drive growth and efficiency. For instance, the formation of Argano in May 2021 involved combining firms like Keste, interRel Consulting, and United Virtualities to deliver next-generation business and technology services. Argano specializes in building intelligent, cloud-based Digital Operating Platforms that enhance operational agility and efficiency for businesses.

Leadership Team

Trinity Hunt Partners is led by a team of experienced professionals:

• Blake Apel: Managing Partner, instrumental in raising Fund VI and overseeing investment strategies.

• John Oakes: Partner, involved in healthcare services investments, including the partnership with Centricity Research.

• George Morgan: Principal, played a key role in the acquisition of REQ and the formation of the digital marketing platform.

• Garrett Greer: Partner, led the investment in Alliance Group to establish a national commercial HVAC platform.

Leadership Changes

In September 2021, Blake Apel was promoted to Managing Partner, reflecting his significant contributions to the firm's growth and success.

Competitor Profile

Market Insights and Dynamics

The private equity industry, particularly in the middle-market segment, has experienced substantial growth, with firms increasingly focusing on specialized sectors such as healthcare, technology, and business services. This trend is driven by the potential for high returns through strategic investments and operational improvements in these sectors.

Competitor Analysis

Trinity Hunt Partners operates in a competitive landscape alongside other middle-market private equity firms such as:

• Genstar Capital: Focuses on investments in healthcare, financial services, and industrial technology.

• Audax Private Equity: Specializes in buy-and-build strategies across various industries, including healthcare and business services.

• GTCR: Invests in growth companies in sectors like healthcare, technology, and financial services.

These competitors emphasize strategic growth, operational enhancements, and sector specialization to drive value creation.

Strategic Collaborations and Partnerships

Trinity Hunt Partners has established significant partnerships to strengthen its market position:

• Centricity Research: Majority investment to expand clinical research services.

• REQ: Acquisition to build a comprehensive digital marketing platform.

• Alliance Group: