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TriWest Capital Partners
TriWest Capital Partners is a private equity firm focused on the Canadian mid-market and lower mid-market, with an emphasis on Western Canada.
TriWest Capital Partners
TriWest Capital Partners is a private equity firm focused on the Canadian mid-market and lower mid-market, with an emphasis on Western Canada. It partners with management teams to drive strategic growth and diversification rather than acting as financial engineers. The firm uses well-defined investment criteria and a Deal DNA framework emphasizing partnership, alignment of interests, dynamic support, and disciplined execution.
General information
Firm type
Private Equity
Year founded
1998
Location
Region
North America
Country
Canada
City
Calgary, Alberta
Corporate office
Calgary, Alberta, Canada
Principals
Cody Church
Managing Partner
Sector focus
Frequently asked questions
Who runs investment decisions at TriWest Capital Partners?
Cody Church serves as Managing Partner and leads the investment committee, a structure formalized after the 2022 passing of co-founder Rick Grafton. The investment committee draws on a tight partnership group that has worked together across multiple fund cycles. Decision-making is concentrated in Calgary, reflecting the firm's single-office, regionally focused model.
Does TriWest participate in fund commitments or only direct deals?
TriWest deploys capital exclusively through direct platform investments, targeting control or significant minority stakes in mid-market companies. The firm does not operate as a fund-of-funds, nor does it take LP positions in other private equity vehicles. This direct-only posture aligns with the partnership's preference for hands-on operational engagement with portfolio company management teams.
What investment stages does TriWest typically target?
TriWest targets mature mid-market companies with EBITDA between roughly C$5 million and C$25 million, transacting primarily through management buyouts, founder recapitalizations, and corporate carve-outs. The firm does not pursue early-stage or venture investments. Growth equity transactions — where the incumbent owner retains a meaningful minority stake — represent a meaningful portion of the deal mix.
What is TriWest's geographic mandate?
The firm invests almost exclusively in Western Canada, with a portfolio concentrated in Alberta, British Columbia, and Saskatchewan. TriWest has supported select portfolio companies expanding into the US Midwest, but does not pursue standalone platform acquisitions outside Western Canada. This regional focus is a deliberate sourcing strategy rather than a capacity constraint.
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