The request for comment section of this story has been updated.

Foodservice equipment company Trimark quietly completed an out-of-court, debt-for-equity restructuring and recapitalization in January, sources have confirmed.

In December last year, the company announced only that it expected to complete a transaction to “substantially deleverage its balance sheet” and that lenders led by Ares Management, Oaktree Capital Management and Bayside Capital provided a “$350 million cash equity” investment.