Trivest Partners LP (“Trivest” or the “Firm”), a leading private equity firm focused on investing in founder- and family-owned businesses, today announced that Trivest Growth Investment Fund (“TGIF”) has completed the sale of its portfolio company Epika Fleet Services, Inc. (“Epika” or the “Company”) to an Ares Private Equity fund (“Ares”). Trivest originally partnered with Epika through a minority investment in December 2018. Terms of the transaction were not disclosed.
Headquartered in Nashville, Tennessee, Epika is a leading national provider of outsourced fleet maintenance solutions, specializing in mobile services for medium- and heavy-duty truck and trailer fleets. Founded in 2016, the Company underwent a significant transformation during Trivest’s partnership from a single-service provider in the Southeast to one of the nation’s premier full-service fleet maintenance platforms.
This transformation was driven by substantial investments in corporate infrastructure and technology, the recruitment of best-in-class leadership, and the execution of 10 strategic acquisitions that expanded Epika’s national mobile service footprint. Trivest’s proprietary “Path to 3x” value creation framework played a central role in scaling operations, integrating acquisitions, and positioning Epika as a true Category of One in a highly fragmented industry.
At the time of the transaction, Epika served more than 2,000 customers across nearly 40 states through a network of over 550 technicians and 19 shop locations—up from 75 technicians in 2018.
“With Trivest’s partnership, we were able to accelerate our growth and scale Epika into a truly differentiated platform,” said Joe Dougherty, CEO of Epika. “Their strategic support was instrumental in expanding our technician network, investing in technology, and enhancing operations—while maintaining our commitment to exceptional customer service.”
“Working alongside the Epika team has been a privilege,” said Amir Mirheydar, Partner at Trivest, who led the Epika investment. “Joe and his team built a culture defined by operational excellence and a powerful organic growth engine. We are proud to have been their partners during this phase of growth and believe they are exceptionally well-positioned for the future.”
Glenn Sherburne, Executive Chairman and Founder of Epika, added, “Trivest has been an incredible partner throughout our journey. From our early collaborations, we had a vision to unify a fragmented industry and build a national platform focused on mobile fleet maintenance. Their support and strategic guidance were instrumental in helping us get there.”
William Blair acted as exclusive financial advisor, and Reed Smith LLP and Maslon LLP served as legal advisors to Epika.
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