Traeger’s $487 Million Initial Public Offering

Latham & Watkins LLP represented Traeger, while Fried Frank acted as counsel to Morgan Stanley & Co. LLC, as representative of the underwriters, in the IPO.

Traeger, Inc.’s (“Traeger”) executed its US$487 million initial public offering of common stock, including the full exercise of an overallotment option to purchase 3,529,411 shares of common stock, at a public offering price of $18.00.

Morgan Stanley, Jefferies LLC, Robert W. Baird & Co. Incorporated, William Blair & Company, L.L.C., Credit Suisse Securities (USA) LLC, RBC Capital Markets, LLC, BMO Capital Markets Corp., Piper Sandler & Co., Stifel, Nicolaus & Company, Incorporated, Telsey Advisory Group LLC, Academy Securities, Inc., AmeriVet Securities, Inc., Loop Capital Markets LLC, and Samuel A. Ramirez & Company, Inc. acted as underwriters for the offering.

Traeger is an AEA portfolio company and AEA, OTPP, Trilantic and certain other stockholders participated in the offering as selling stockholders. Traeger is the creator and category leader of the wood pellet grill, a versatile and easy to use outdoor cooking system that uses all-natural hardwoods to grill, smoke, bake, roast, braise, and barbeque. 

Latham & Watkins LLP represented Traeger in the offering with a capital markets team led by New York partner Stelios Saffos (Picture), Orange County partner Shayne Kennedy, and New York partner Ian Schuman, with Orange County associate Ross McAloon, Chicago associate Ben Winnett, and New York associate Angel Marcial. Advice was also provided on tax matters by Washington, D.C. partner Andrea Ramezan-Jackson, with Washington, D.C. associate Ben Cheatham; on benefits & compensation matters by Los Angeles/Orange County partner Michelle Carpenter, with Washington, D.C. associate Courtney Thomson; on intellectual property matters by Orange County counsel David Kuiper, with Orange County associate Nathan Wages; and on public company representation matters by New York partner Jenna Cooper and New York counsel Emily Corbi, with New York associate Alicia Robinson.

The Fried Frank team was led by corporate partners Andrew B. Barkan and Meredith L. Mackey and included executive compensation & ERISA partners Jeffrey Ross and Amy L. Blackman; tax partners Joseph E. Fox and Eli Weiss; corporate special counsel Adam B. Cohen; corporate associates Adam Picker, Charles Stern and Anjali Vohra; executive compensation & ERISA associate P. Ryan Davis; and tax associates Tzvi Weisz and Bruce M. Wilson.

Involved fees earner: Andrew Barkan – Fried Frank Harris Shriver & Jacobson; Amy Blackman – Fried Frank Harris Shriver & Jacobson; Adam Cohen – Fried Frank Harris Shriver & Jacobson; P. Ryan Davis – Fried Frank Harris Shriver & Jacobson; Joseph Fox – Fried Frank Harris Shriver & Jacobson; Meredith Mackey – Fried Frank Harris Shriver & Jacobson; Adam Picker – Fried Frank Harris Shriver & Jacobson; Jeffrey Ross – Fried Frank Harris Shriver & Jacobson; Charles Stern – Fried Frank Harris Shriver & Jacobson; Anjali Vohra – Fried Frank Harris Shriver & Jacobson; Eli Weiss – Fried Frank Harris Shriver & Jacobson; Tzvi Weisz – Fried Frank Harris Shriver & Jacobson; Bruce Wilson – Fried Frank Harris Shriver & Jacobson; Michelle Carpenter – Latham & Watkins; Ben Cheatham – Latham & Watkins; Jenna Cooper – Latham & Watkins; Emily Corbi – Latham & Watkins; Shayne Kennedy – Latham & Watkins; David Kuiper – Latham & Watkins; Angel Marcial – Latham & Watkins; Ross McAloon – Latham & Watkins; Andrea Ramezan-Jackson – Latham & Watkins; Alicia Robinson – Latham & Watkins; Stelios Saffos – Latham & Watkins; Ian Schuman – Latham & Watkins; Courtney Thomson – Latham & Watkins; Nathan Wages – Latham & Watkins; Ben Winnett – Latham & Watkins;

Law Firms: Fried Frank Harris Shriver & Jacobson; Latham & Watkins;

Clients: Morgan Stanley; Traeger Pellet Grills;

Martina Bellini

Author: Martina Bellini