Trinity Hunt Partners, a leading growth-focused private equity firm, has announced the successful closing of its inaugural Continuation Fund, amassing commitments totaling $618 million. This significant capital infusion is strategically aimed at fostering the continued expansion of two prominent technology services companies within its portfolio: Argano and Improving. Both companies were initially acquired through Trinity Hunt Partners V, L.P., and this new fund ensures dedicated resources for their ongoing development.
This substantial Continuation Fund is backed by prominent investors, with StepStone Group and Schroders Capital leading the round, alongside further commitments from both new and existing investors. The fund not only secures the current ownership of Argano and Improving but also provides a considerable pool of capital earmarked for strategic follow-on investments. This financial firepower is designed to accelerate the growth trajectories of both technology service providers.
Adam Johnston, Partner at StepStone, emphasized the strategic alignment and quality of partnership, stating, “We seek to partner with best-in-class sponsors to create solutions for their highest quality assets, and this transaction is a great example of both. We’re excited to build on our partnership with Trinity Hunt in a transaction that will support these two companies in their continued value creation.” This endorsement from a leading investor like StepStone underscores the confidence in Trinity Hunt Partners‘ strategy and the potential of Argano and Improving.
During Trinity Hunt Partners‘ initial investment period, both Improving and Argano have experienced rapid growth. This expansion has been fueled by a multi-pronged approach encompassing strong organic growth strategies, strategic add-on acquisitions to broaden capabilities and market reach, and significant investments in talent and corporate culture. The Continuation Fund is designed to double down on this successful formula, providing the financial wherewithal to further amplify these growth drivers.
Blake Apel, Managing Partner at Trinity Hunt Partners, highlighted the significance of this milestone: “The closing of our first continuation fund is an important milestone for Trinity Hunt. We are extremely proud of the success that these two leading companies have achieved thus far in our partnerships together, and the attractive returns we have been able to provide to our existing investors. We believe there is additional value at these companies that can be unlocked with additional time and capital.” Apel’s statement reflects both past achievements and future ambitions for Argano and Improving under Trinity Hunt Partners‘ guidance.
David Guryn, Senior Investment Director at Schroders Capital, further reinforced the collaborative spirit and future outlook, “We are very excited to expand our partnership with Trinity Hunt and these two exceptional companies.” This expanded partnership signals a strong vote of confidence in Trinity Hunt Partners‘ investment strategy and operational expertise in the private equity space.
Spotlight on Argano and Improving
Argano stands out as a premier digital consultancy dedicated to optimizing client operations. They achieve this through the modernization, integration, and automation of core digital infrastructure. Argano’s expertise spans crucial business functions, including e-commerce solutions, billing systems, enterprise resource planning (ERP), supply chain management, human capital management, and advanced analytics for reporting and performance insights. With a global talent network spanning 38 countries, Argano serves over 1,500 clients across diverse industries, delivering transformative digital solutions.
Improving is recognized as a cutting-edge digital services organization committed to delivering impactful business outcomes through the application of the latest technologies. Their international footprint includes 16 offices strategically located across the United States, Canada, and Mexico, enabling them to serve a broad North American market with tailored digital solutions and services.
About Trinity Hunt Partners and Key Investors
Trinity Hunt Partners is a growth-oriented middle market private equity firm with a robust portfolio and over $1.5 billion in assets under management. The firm specializes in partnering with and building leading companies within the business services, healthcare services, and consumer services sectors. Trinity Hunt Partners has cultivated a strong reputation for providing not only financial capital but also the strategic and operational support necessary to elevate entrepreneurial services companies to significant new heights.
StepStone Group is a globally recognized private markets investment firm. Their focus is on delivering customized investment solutions alongside advisory, data, and administrative services to a diverse clientele. With oversight of approximately $588 billion in private markets allocations as of June 30, 2022, and $137 billion in assets under management, StepStone is a major player in the private equity, infrastructure, private debt, and real estate asset classes.
Schroders Capital offers investors a wide gateway to private asset investment opportunities. Their offerings range from portfolio building blocks to bespoke private asset strategies. Managing approximately $88 billion in assets as of June 30, 2022, Schroders Capital is dedicated to achieving top-tier, risk-adjusted returns. They execute investments through a combination of direct investment capabilities and comprehensive solutions across all private market asset classes.
This Continuation Fund marks a significant chapter for Trinity Hunt Partners and signals continued growth and innovation for Argano and Improving in the dynamic technology services landscape.
