Warren Buffett’s favorite banker has filed to take Weber public – and the grill maker could secure a billion-dollar valuation

Warren Buffett’s favorite banker has filed to take Weber public – and the grill maker could secure a billion-dollar valuation

Warren Buffett's favorite banker has filed to take Weber public, paving the way for the grilling specialist to deliver a billion-dollar IPO. BDT Capital Partners, helmed by founder and CEO Byron Trott, has been Weber's majority shareholder since 2010 and has agreed to sponsor its IPO. Weber boasts a global installed base of 50 million grills, and commands a 24% share of the global market, . Notably, Weber has enjoyed some benefits from the COVID-19 pandemic, including higher demand for outdoor spaces and activities thanks to social-distancing measures and lockdowns. The company's revenue surged 62% year-on-year to $963 million in the six months to March 31, and its net income tripled to about $74 million during that period. Weber raked in over $1.5 billion of revenue in the year to September 30, up from $1.3 billion in its previous fiscal year, making a billion-dollar public valuation for the company seem reasonable. Trott, who worked at Goldman Sachs before launching BDT in 2009, has advised Buffett on several Berkshire Hathaway deals. Those include the conglomerate's purchases of McLane, Marmon, and Pilot Flying J over the past two decades, as well as its financing of in 2008. "He understands Berkshire far better