Trivest Partners LP announced on Wednesday, April 28, that it has sold beef processing and distribution platform Miami Beef Co. Inc. to Falfurrias Capital Partners LP.

Trivest didn’t disclose the financial terms of the transaction, which comes after The Deal reported in October that Trivest had retained Jefferies LLC to explore a sale of the $30 million-in-Ebitda platform.

Trivest said that its ownership of the Miami-based platform saw significant expansion across its product portfolio and geographic footprint through organic growth and strategic add-on acquisitions, including Newark, N.J.-based Best Provision Co. last April; Syracuse, N.Y.-based Hofmann Sausage Co. LLC in February 2024; and Brooklyn Burgers and Devault, Pa.-based Devault Foods in March 2023.

Founded in 1972, Miami Beef processes and distributes beef patties, chicken and turkey patties, ground meat, steak and chops, meatballs, sausages and more. Its clients include restaurants, K-12 schools, cruises, universities, amusement parks, food retailers, healthcare facilities and the military.

Trivest invested in Miami Beef in 2022 through its second growth fund. The fund, TGIF II, invests $20 million to $60 million in companies with at least $4 million of Ebitda, according to the firm’s website.

Charlotte, N.C.-based Falfurrias focuses on growth-oriented, middle market businesses and has raised $2.2 billion across six funds. It closed its sixth fund with $1.35 billion in commitments in March.

Miami-based Trivest focuses on founder-driven and family-owned companies in the U.S. and Canada across the business services, consumer, healthcare, niche manufacturing and value-added distribution sectors.

Trivest in 2022 closed Trivest Fund VII LP with $950 million in commitments for family- and founder-owned investing and Trivest Discovery Fund II LP at $600 million, targeting smaller companies in fragmented markets. That year it also closed Trivest Recognition Fund with $1.3 billion in commitments to focus on FFO businesses with more than $15 million in Ebitda.

Trivest and Miami Beef tapped Jefferies for financial advice and DarrowEverett LLP for counsel. Managing partner Jamie Elias and principal Jonathan Schonfeld worked on the deal internally along with Miami Beef CEO Robert Young.