Trivest Partners Completes Sale of North Star Seafood

Trivest Partners Completes Sale of North Star Seafood

MIAMI, FL – (February 25, 2016) Trivest Partners (“Trivest”) today announced the sale of North Star Seafood (“North Star” or the “Company”) to Sysco Corporation (NYSE: SYY), the world’s largest broadline food distributor with nearly $50 billion in annual sales.  North Star represents the first exit event in Trivest Fund V.

North Star, based in Pompano Beach, FL, is one of the “Top 3” independent seafood distributors in the Southeastern United States.  The Company offers the most diverse assortment of high-quality fresh and frozen seafood in the State of Florida with unmatched customer service and support.  North Star sells to a diverse group of high-end restaurants, hotels, resorts, cruise lines and retailers.

During Trivest’s ownership, North Star grew both organically and via three add-on acquisitions to become double the size of any competitor in Florida and nearly three times the size of its next largest direct competitor.  The North Star management team embraced Trivest’s value creation strategies which helped to create a unique asset for strategic buyers.

The Company achieved significant revenue and EBITDA growth during Trivest’s ownership which yielded an outstanding investment outcome.

About Trivest Partners:

Trivest Partners is a private investment firm that focuses on partnering with founder/family owned businesses in the United States and Canada.  Since its founding in 1981, Trivest has completed more than 225 transactions, totaling in excess of $5.5 billion in value.  For additional information, please visit www.trivest.com.