Ontario Teachers’ partners with AEA in Traeger Grills recap

U.S. private equity firm AEA Investors has partnered with Ontario Teachers’ Pension Plan in the recapitalization of Traeger Pellet Grills LLC, a Salt Lake City, Utah-based designer, maker and marketer of wood-pellet grilling and outdoor cooking products. U.S. private equity firm Trilantic North America, which initially invested in Traeger Grills in 2013, and CEO Jeremy Andrus will re-invest in the deal, the financial terms of which were not disclosed. As a result of the recapitalization, AEA will become the company's new majority shareholder. Traeger Grills was established in 1990.

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