As barbecue season continues in full swing, the Ontario Teachers’ Pension Plan has announced its involvement in an investment in a U.S.-based wood-fired grill company.

Private equity firm Trilantic Capital Management is recapitalizing Salt Lake City-based Traeger Grills with AEA Investors as the new majority control shareholder. In turn, AEA Investors is completing the acquisition with the Ontario Teachers’ Pension Plan.

Read: Ontario Teachers’ completes acquisition of global HR company

“Trilantic North America has been a great partner to Traeger by investing in key growth initiatives and supporting the company as it has continued to scale, and we are excited to have them remain as a partner as we continue on our rapid growth,” said Traeger chief executive officer Jeremy Andrus in a news release.

“Furthermore, we welcome our new partners, AEA and Ontario Teachers’, who have excellent reputations and track records of supporting consumer growth businesses.”

Read: Ontario Teachers’ to acquire Spanish funeral company

Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com

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