BDT Capital Partners takes over majority share in new partnership with family-owned US barbecue manufacturer.
The terms of the deal, which was agreed December 17, haven't been disclosed but BDT is reported to have contributed £65m, while £150m of debt is to be split equally between senior and subordinated notes.

Chicago-based BDT Capital is backed by Byron Trott, former vice chairman of investment banking firm Goldman Sachs.

As part of the deal, Weber-Stephen second generation president and ceo James Stephen will maintain his executive role within the company. Meanwhile, the Stephen family will retain ownership of its four Weber-branded restaurants and work with BDT as a minority investor in the barbecue firm.

Commenting on the move, James Stephen said: "Our family remains committed to the long-term growth of Weber and to the values our brand has come to represent around the globe. This partnership with BDT Capital Partners allows us to continue to invest in the business, produce innovative high quality products, deliver strong customer service, and build upon the global strength and heritage of the Weber brand. The team at BDT Capital Partners and its extensive network of family business leaders understand the needs of family companies, and they invest for the long-term."