Balmoral Funds, LLC Completes Acquisition of Trecora Resources
June 27, 2022
Balmoral Funds LLC has acquired Trecora Resources (NYSE: TREC), a publicly traded specialty chemicals producer via a take-private transaction for $9.81/share.
Trecora operates two facilities near Houston, Texas, including a specialty petrochemicals facility focused on producing high-purity hydrocarbons and a specialty wax facility. Trecora also provides custom processing services at both facilities.
David Shainberg, Managing Director of Balmoral, said, “we are delighted to announce this transaction with Trecora and are eager to execute on its growth plan. Having followed Trecora for years, we’re encouraged by its strong customer relationships and product demand. This is Balmoral’s fourth acquisition in the chemicals sector and we are excited to contribute to Trecora’s continued success as a private company.”
Blank Rome LLP served as legal advisor to Balmoral, and Piper Sandler served as financial advisor to Balmoral. Guggenheim Securities, LLC served as exclusive financial advisor to Trecora, and Morgan, Lewis & Bockius LLP served as legal advisor to Trecora.
About Balmoral Funds
Balmoral is a Los Angeles, CA based private equity fund that was founded in 2005. Balmoral’s objective is to be the financial partner of choice for entrepreneurial and successful C-suite executives and operating advisors creating transformative, revitalizing change in the businesses they co-invest in together. Balmoral has approximately $1.5 billion of assets under management. Balmoral typically invests in companies that have revenues between $30 to $500 million and require equity investments of $10 to $100 million, with the capability of investing an additional $100 million or more in particularly compelling opportunities.