A middle-market private equity firm, Trimaran Fund Management is also known simply as Trimaran. By creating private equity or equity-oriented investments in niche middle-market companies, we seek long-term capital appreciation. In transactions ranging from under $100 million to $1 billion, Trimaran typically invests $25 to $100 million in equity.
We are seasoned investors. Since 1995, we have invested $1.6 billion in equity in operations over $10 billion in more than 60 portfolio companies.
Trimaran has invested in a multitude of other sectors, from development and technology-oriented investments to highly structured investments in projects and infrastructure to deep-value investments and turnarounds. In these acquisitions, the subject businesses spanned a range of sectors including energy, infrastructure, telecommunications/media, technology, consumer products and services, financial services, and production.
We are innovators. We have early investments in telecom and Internet companies such as Global Crossing Ltd. and TeleBank Financial Corporation. We spearheaded Texas-New Mexico Power Company’s first LBO of an embedded electrical utility, TNP Enterprises. Through ITC Holdings Corp, which became the biggest autonomous transmission firm under our ownership, we created groundbreaking investments in electric transmission.
Principles of Investment
Our goal is straightforward: to provide our investors with superior risk-adjusted yields. We do this by adhering to a set of basic values:
JOINING WITH AND SUPPORTING FIRST-RATE MANAGEMENT TEAMS
We understand a powerful, motivated management team is essential to the achievement of an investment. Our company management teams tend to have ownership positions above typical levels, sometimes by magnitude orders. We align our short-term and long-term interests with our managers’ interests. We support them with resources and help them attain their company and personal goals in every way possible.
Private equity investments remain competitive. Our achievement is due in part to creating investment possibilities in new fields and knowing how to create value before others discover them. Examples of this are our early involvement in telecom and Internet investments, as well as our groundbreaking investments in controlled electrical utilities.
We are investing in LBOs and recapitalizations, investing in development and investing in project funding. We act as a control investor in the most comfortable way, as well as joint control with other like-minded private equity or strategic investors. To complete operations, we are prepared to operate through complicated capital structures, regulatory, tax, and legal problems.
We think the entry cost is a key determinant of the achievement of the investment. For a fast-growing company, this is as true as it is for a fundamental manufacturer. In keeping price discipline, our access to proprietary deal flow and over twenty years of business experience are essential.
DEAL FLOW MAXIMIZATION
Our business model aims to maximize the number of possibilities that we and our portfolio businesses see. Our broad sector mandate, our wide range of interactions and our flexible strategy all serve to maximize the flow of our agreement.
USE APPROPRIATE LEVERAGE/OFFERING ONGOING SUPPORT
For our businesses, we focus on prudent leverage, with capital structures that do not put unnecessary stress on activities. We have a bias towards early intervention when a business is underperforming. In our portfolio companies, we often create follow-up investments, sometimes to promote development, and when needed to cope with temporary shortcomings.
RESPECT AND HIGH INTEGRITY
We treat with the utmost regard our colleagues, management teams, staff organizations, associates, service suppliers, and all others we communicate with. Our lifeblood is our reputation for integrity.
Trimaran Fund Management, a middle-market private equity firm, is also known as Trimaran. We are seeking long-term capital appreciation by generating private equity or equity-oriented investments in niche middle-market companies. Trimaran typically invests between $25 and $100 million in equity in transactions ranging from under $100 million to $1 billion.
We are investors who are seasoned. Since 1995, in more than 60 portfolio companies, we have invested $1.6 billion in equity in activities over $10 billion.
Trimaran has invested in a number of other industries, ranging from growth and technology-oriented investments to extremely structured projects and infrastructure investments to deep-value investments and turnarounds. The subject companies cover a variety of industries in these acquisitions, including energy, infrastructure, telecommunications/media, technology, consumer products and services, financial services, and manufacturing.
We’re innovative. We have early investments such as Global Crossing Ltd. and TeleBank Financial Corporation in telecom and Internet businesses. We initiated the first LBO of an integrated electric utility, TNP Enterprises, from Texas-New Mexico Power Company. We developed groundbreaking investments in electrical transmission through ITC Holdings Corp, which became the largest independent transmission company under our ownership.
Principles for Investment
Our objective is simple: to deliver superior risk-adjusted returns to our investors. By adhering to a set of fundamental values, we do this:
ALIGNING OURSELVES WITH FIRST-RATE MANAGEMENT TEAMS
We know that to achieve an investment, a strong, driven leadership team is crucial. Our leadership teams tend to have positions of ownership above typical rates, sometimes by orders of magnitude. We align our interests in the short and long term with the interests of our executives. We support them with resources and in every manner, we can assist them with reaching their business and personal objectives.
Investments in private equity stay competitive. Our accomplishment is partly due to generating opportunities for investment in new areas and knowing how to produce value before others find it. Examples of this are our early participation in investments in telecom and the Internet and our pioneering investments in regulated electric utilities.
We invest in LBOs and recapitalizations, we invest in growth, and we invest in financing projects. In the most comfortable manner, we behave as a control investor, as well as joint control with other similarly-minded private equity or strategic investors. We are ready to work through complex capital structures, regulatory, tax, and legal issues to finish activities.
We believe the price of admission is the main determinant of the investment’s accomplishment. This is as real for a fast-growing business as it is for a basic manufacturer. Our access to proprietary deal flow and more than twenty years of company experience are crucial to maintaining price discipline.
OPTIMUM DEAL FLOW
Our business model is aimed at maximizing the number of opportunities we and our portfolio companies see. Our broad industry mandate, our wide variety of interactions and our flexible approach all contribute to maximizing our contract flow.
USE APPROPRIATE LEVERAGE/FACILITATING CONTINUED SUPPORT
We concentrate on wise leverage for our companies, with capital structures that do not place unneeded stress on activity. When a company is underperforming, we have a bias towards early intervention. We often generate follow-up investments in our portfolio companies, sometimes to support growth, and when necessary to deal with temporary weaknesses.
OPTIMUM INTEGRITY AND RESPECT
Our colleagues, management teams, employees organizations, partners, service providers, and all the others we interact with are treated with the utmost consideration. Our reputation for integrity is our lifeblood.