Cases and Deals

Blank Rome Represents Balmoral Funds Affiliate in Its Take-Private Acquisition of Trecora Resources

A Blank Rome team represented an affiliate of Balmoral Funds, a Los Angeles-based private equity firm, in its take-private acquisition of Trecora Resources (NYSE: TREC), a Texas-based producer of specialty petrochemicals, including high purity hydrocarbons and specialty waxes.

The acquisition of Trecora was structured as a public tender offer followed by a second step merger. The tender offer closed on Friday June 24, 2022, with approximately 70.7 percent of the shares tendered. The close-out merger of the remaining shares was consummated on June 27, 2022. The acquisition was completed at a price of $9.81 per share, net to each shareholder, in cash, without interest and subject to any required tax withholdings.

For more information on this transaction, please read Trecora Resources and Balmoral Swan MergerSub, Inc. Announce Completion of the Tender Offer for All Outstanding Shares of Trecora Resources (press release, June 24, 2022).

The Blank Rome team was led by Kipp B. CohenAlan H. Lieblich, and James J. Barnes, with substantial assistance from John A. MeehanPeter M. Melampy, and Ebonee V. Johnson. Also assisting were Cory G. JacobsMargaret Anne HillMichael A. KadlecNathan S. BrillJason E. ReismanJacob M. BrownsteinPhilip R. Rosenfeldt, Asima J. Ahmad, Stephen C. ZumbrunMaria V. RodriguezShaun J. BockertMelissa A. GriestNicolas B. Bednarek, Larry R. (Buzz) Wood Jr., Adam V. OrlacchioGeorge T. Boggs, and Riki McGettigan.