Dallas-based environmental, engineering and science consulting firm Trinity Consultants is getting new ownership. New York-based Veritas Capital has agreed to acquire the business from its private equity owner, Oak Hill Capital, which has owned Trinity for about five years.
Oak Hill will reinvest in Trinity and stay on as a minority shareholder, the firms said in an announcement. Trinity’s management team and its broader employee base will also continue to hold what the companies described as a meaningful ownership stake once the deal closes.
Financial terms were not disclosed. The transaction is expected to close by the fourth quarter of 2026, subject to customary closing conditions and regulatory approvals.
Trinity President and CEO Paul Greywall will continue to lead the company. A three-decade Trinity veteran, Greywall took over as CEO in August 2023 from Jay Hofmann, who had led the firm for 22 years.
“For over 50 years, Trinity Consultants has grown to be a premier platform of technical specialists, helping clients solve complex environmental, engineering and scientific challenges by offering technical expertise and forging trusted relationships,” Greywall said in a statement. “Building on that foundation, we are excited to partner and reinvest alongside Veritas, whose strong track record of partnering with market-leading businesses in regulated, mission-critical markets makes it the ideal partner for our next phase of growth.”
John Rachwalski, a partner at Oak Hill Capital, said in the announcement that the firm’s reinvestment reflects its conviction that Trinity can build on its foundation and capitalize on future growth.
From an air quality shop to a global platform
Founded in 1974, Trinity started as a small air quality consultancy and has expanded into four business lines: EHS regulatory compliance, the built environment, life sciences, and water and ecology. Its clients include advanced manufacturing, life science, healthcare and data center operators that need help navigating environmental permitting and compliance. The company says it now serves more than 10,000 clients worldwide.
Much of that growth has come through dealmaking. Trinity had roughly 450 employees across 48 offices when Los Angeles-based Levine Leichtman Capital Partners took a majority stake in 2015, and it completed 17 acquisitions before Oak Hill bought the firm in June 2021.
Trinity has since kept buying. Its deals include New York acoustical consultancy Longman Lindsey, Austin’s Waid Environmental, Tucson-based WestLand Resources and GeoSystems Analysis, Sacramento water planning firm Zanjero and building analytics platform OTTO. In March 2026, Trinity acquired Tennessee-based Process Improvement Institute.
A Texas-heavy summer for Veritas
Veritas said it manages more than $54 billion in assets and invests in companies operating at what it calls the intersection of technology and government. Daniel Sugar, partner and co-head of flagship private equity at Veritas, said the firm sees Trinity at “a growth inflection point” and plans to back an acquisitions-driven strategy alongside investments in technology and account growth.
The Trinity agreement was one of two Texas deals Veritas disclosed in a 24-hour span. The firm also announced a definitive agreement to acquire Houston’s Saber Power Services, a power infrastructure services provider, from Greenbelt Capital Management.
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