White Oak Global Advisors acted as the lead arranger for a $130 million senior secured term loan to Trecora Resources, a Texas-based provider of petrochemicals, petrochemical manufacturing products and specialty waxes. Trecora used proceeds from the loan to consummate a take-private acquisition transaction by Balmoral Funds. Balmoral is a $1.5 billion AUM private equity firm managing committed funds, based in Los Angeles.
“Trecora has built a strong business through delivering high quality products and reliable service to its valued customers for more than 50 years,” Albert Brandano, director at White Oak, said. “We are proud to support the next chapter of Trecora’s growth as a private company in partnership with Balmoral.”
“We are enthusiastic about the opportunity to support Trecora’s next phase of growth. Over the years, Trecora’s success has been enabled by growing with its customers and we look forward to continuing that in the future,” Richard Levernier, vice president at Balmoral, said. “This represents Balmoral’s second acquisition with White Oak this year and we are excited about continuing to collaborate on forthcoming investments.”
