Balmoral Funds takes Trecora private for $9.81 per share

Trecora owns and operates a specialty petrochemicals facility.

  • Trecora is no longer trading on the New York Stock Exchange
  • Piper Sandler is serving as financial advisor to Balmoral while Guggenheim Securities is doing likewise to Trecora
  • Since its founding in 2005, Balmore has about $1.5 billion of assets under management

Balmoral Funds, LLC has closed its previously announced take-private buyout of Trecora Resources at $9.81 per share.

As a result of the closing, Trecora will no longer trade on the New York Stock Exchange nor will it be listed on any public market.

Blank Rome LLP served as legal advisor to Balmoral while Piper Sandler served as financial advisor. Guggenheim Securities LLC served as financial advisor to Trecora while Morgan, Lewis & Bockius LLP served as legal advisor.

Balmoral is a Los Angeles-based private equity fund that was founded in 2005. According to the firm, Balmoral has approximately $1.5 billion of assets under management. Balmoral typically invests in companies that have revenues between $30 million and $500 million and require equity investments of $10 million to $100 million.

Trecora owns and operates a specialty petrochemicals facility specializing in high purity hydrocarbons and other petrochemical manufacturing and a specialty wax facility, both located in Texas, and provides custom processing services at both facilities.