Trinity Services Group, a portfolio company of H.I.G. Capital, has completed the acquisition of Swanson Services Corporation, a provider of commissary products and software services to correctional facilities. H.I.G. acquired Trinity Services Group from Compass Group in April 2012.
Swanson Services provides commissary services, inmate banking software and kiosk-based communication services to correctional facilities. The company has a national presence with more than 500 customers located in 41 states. Swanson Services has been owned and operated by three generations of the Swanson family since its founding in 1983 and is headquartered in Denver (www.swansons.net).
“Trinity is committed to exceeding its clients’ expectations through high-quality, comprehensive, and cost-effective solutions,” said 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.”
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. The company is headquartered in near Tampa in Oldsmar, FL (www.trinityservicesgroup.com).
“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,” said 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.”
H.I.G. Capital specializes in providing capital to small and medium-sized companies and invests in management-led buyouts and recapitalizations of manufacturing or service businesses. H.I.G. Capital has more than $15 billion of capital under management. The firm was founded in 1993 and is based in Miami with additional offices in Atlanta, Boston, Chicago, Dallas, New York, San Francisco, London, Hamburg, Madrid, Milan, Paris, and Rio de Janeiro (www.higcapital.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 3-20-14
