M&A Deal Summary

Balmoral Funds Acquires Trecora

On June 27, 2022, private equity firm Balmoral Funds acquired chemicals company Trecora

Acquisition Highlights
  • This is Balmoral Funds’ 2nd transaction in the Chemicals sector.
  • This is Balmoral Funds’ 16th transaction in the United States.
  • This is Balmoral Funds’ 4th transaction in Texas.

M&A Deal Summary
Date 2022-06-27
Target Trecora
Sector Chemicals
Buyer(s) Balmoral Funds
Deal Type Going Private
Advisor(s) Guggenheim Securities (Financial)
Morgan Lewis (Legal)

Target

Trecora

The Woodlands, Texas, United States
Trecora is focused on the manufacturing of various specialty petrochemical products and synthetic waxes and the provision of custom processing services. The company operates a specialty petrochemical facility near Silsbee, Texas which produces high purity hydrocarbons and other petroleum based products including isopentane, normal pentane, isohexane, and hexane which may be used in the production of polyethylene, packaging, polypropylene, expandable polystyrene, poly-iso/urethane foams, crude oil from the Canadian tar sands, and in the catalyst support industry. Trecora was formed in 1967 and is headquartered in The Woodlands, Texas

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Buyer(S) 1

Buyer

Balmoral Funds

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Balmoral Funds is a private equity firm which targets recapitalizations, special situations, and acquisitions of small and middle-market companies. Typical investment candidates are located in the US or Canada, undergoing operational challenges with up to $400 million of revenue. Sectors of interest include manufacturing, business services, consumer products, retail, and value-added distribution. The Firm's target investment size is $5 to $40 million. Balmoral Funds was established in 2005 and is based in Los Angeles, California.

DEAL STATS #
Overall 16 of 18
Sector (Chemicals) 2 of 2
Type (Going Private) 1 of 1
State (Texas) 4 of 4
Country (United States) 16 of 18
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-08 Resco Products

Pittsburgh, Pennsylvania, United States

Resco Products is a designer and manufacturer of refractory materials. Refractories are consumable materials used as protective linings for high-temperature furnaces, containers carrying molten metals, and a range of other harsh environment industrial situations. Resco Products was founded in 1946 and is based in Pittsburgh, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-06 Enesco

Itasca, Illinois, United States

Enesco is a distributor of products to wide variety of specialty card and gift retailers, home décor boutiques, as well as mass-market chains and direct mail retailers. Enesco was founded in 2007 and is based in Itasca, Illinois.

Sell -
Mergr

Product

Company

Legal