Duff & Phelps Advised Traeger Pellet Grills, LLC on its Significant Minority Sale to Trilantic Capital Partners
Duff & Phelps is pleased to announce that Trilantic Capital Partners (“TCP”), a leading global private equity firm, has acquired a substantial minority interest in Traeger Pellet Grills, LLC (“Traeger” or the “Company”). In conjunction with the TCP investment, the Company completed a senior credit facility financing with Prospect Capital Corporation. The transaction closed on June 18, 2013. Traeger Pellet Grills, LLC manufactures wood pellet grills and wood pellets for outdoor cooking. It offers a range of grills, pellets, sauces, rubs and shakes, accessories, and grill covers. 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 the United States and Canada. In 2012, the company began the roll-out of Traeger branded stores in major shopping malls across the country. The company was founded in 1985 and is based in Wilsonville, Oregon. Trilantic Capital Partners is a private equity firm focused on control and significant minority investments in North America and Europe with primary investment focus in the consumer, energy, financial and business services sectors. Trilantic currently manages four institutional private equity funds with aggregate capital commitments of $5.3 billion. Prospect Capital Corporation (NASDAQ: PSEC) is a leading provider of flexible private debt and equity capital to sponsor-owned and non-sponsor-owned middle market companies in the United States and Canada. Duff & Phelps was engaged as the exclusive financial advisor to Traeger Pellet Grills, LLC to provide investment banking advisory services in connection with a minority equity recapitalization and a refinancing of Traeger's credit facilities.