History

1998

TriWest was founded in 1998 by Ron Jackson, Lorne Jacobson, and Cody Church, following the sale of Burns Foods, a 110-year-old, private Canadian food conglomerate with revenues of $1.1 billion ($CAD).

Ron Jackson was a part of Burns Foods’ senior management team for over 25 years and served as President of the company for the 10 years prior to its sale. Lorne Jacobson worked alongside Ron as VP Corporate Development and General Counsel of Burns Foods from 1994 to 1998. Before co-founding TriWest, Cody Church was with EXOR America, a New York based private equity firm.

1999 – Fund I

Fund I was raised in early 1999 with $57 million ($CAD) in committed capital and invested in eight companies between 1999 and 2003.

2003 – Fund II

Fund II was raised in 2003 with $120 million ($CAD) of committed capital.

In 2003, Ron Jackson transitioned to the position of Senior Advisor and investor in TriWest. Jeff Belford and Kevin Jenkins joined the firm as Managing Directors with the establishment of Fund II, and over the next four years TriWest invested in eight companies.

2007 – Fund III

Fund III was raised in 2007 at $250 million ($CAD) and TriWest invested in eight companies over four years.

In 2010, Senior Managing Directors Norm Rokosh and Mick MacBean joined TriWest.

After six years with TriWest, Kevin Jenkins left the firm in 2009 to run the global operations of World Vision International as the charitable organization’s President and Chief Executive Officer.

2011 – Fund IV

Fund IV was raised in 2011 with commitments of $350 million ($CAD) and invested in 12 companies over four years.

Chad Danard and Ryan Giles were promoted to Managing Directors at the launch of Fund IV.

In 2012, Lorne Jacobson transitioned to the position of Vice Chairman of TriWest.

2015 – Fund V

Fund V was raised in 2015 with commitments of $500 million ($CAD) and invested in 11 companies over five years (two by way of co-investment with Fund IV and on by way of co-investment with the Growth Fund).

Dino DeLuca joined TriWest as Chief Operating Officer at the beginning of Fund V.

In late 2020, TriWest raised a $155 million ($CAD) growth fund that focuses on businesses with less than $10 million of EBITDA.

Jon Spencer and Dave Connolly were promoted to Managing Directors at the launch of the Growth Fund.