Trilantic Capital Partners has acquired a substantial minority interest in Traeger Pellet Grills, a designer, manufacturer and marketer of wood pellet grills.
“Traeger management has developed a very strong product offering and a loyal following,” said Charlie Moore, a partner at Trilantic. “We look forward to helping the company execute on key growth initiatives going forward, including expanding its management team.”
Traeger Pellet Grills is a designer, manufacturer and marketer of wood pellet grills, wood pellets, sauces & spices, and grilling accessories. The company sells its products through a dealer network, online and through a direct sales force at selected retailers, trade shows, fairs, rodeos, and other outdoor events. In 2012, the company began the rollout of Traeger-branded stores in major shopping malls across the country. Traeger operates three wood pellet mills in Oregon, Georgia and Iowa; warehouse and logistics locations in Oregon, Colorado and Tennessee; and a facility in Utah where it recruits and trains it sales force. The company also has a team in China dedicated to manufacturing quality and supply chain management. Traeger was founded in 1985 and is headquartered in Wilsonville, OR (www.traegergrills.com).
“Trilantic’s track record of working successfully with entrepreneurs was extremely attractive to the company. We look forward to partnering with Trilantic to take Traeger through the next chapter of its development,” said Keith Barish, Chairman of Traeger.
Trilantic Capital Partners makes control and significant minority investments in North America and European companies. Sectors of interests include consumer, energy, financial and business services. Trilantic was formed in 2009 by the former principals of Lehman Brothers Merchant Banking. Trilantic currently manages two institutional private equity funds with an aggregate capital commitment of $5.6 billion. The firm is based in New York (www.trilantic.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 7-1-13