Jul 21, 2022   SOURCE: BusinessWire

White Oak Acts as Lead Arranger in $130 Million Term Loan to Support Balmoral Funds’ Take-Private Acquisition of Trecora Resources

White Oak Global Advisors LLC (“White Oak”) announced today it acted as the lead arranger for a $130 million senior secured term loan to Trecora Resources ("Trecora"), a Texas-based provider of petrochemicals, petrochemical manufacturing products and specialty waxes. Proceeds from the loan were used to consummate a take-private transaction by Balmoral Funds (”Balmoral”). Balmoral is a $1.5 billion AUM private equity firm managing committed funds, based in Los Angeles, CA.

“Trecora has built a strong business through delivering high-quality products and reliable service to its valued customers for more than 50 years,” said Albert Brandano, Director at White Oak. “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,” said Richard Levernier, Vice President at Balmoral. “This represents Balmoral’s second acquisition with White Oak this year and we are excited about continuing to collaborate on forthcoming investments.”

About White Oak Global Advisors

White Oak Global Advisors, LLC (“WOGA”) is a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Together with its financing affiliates, WOGA provides over twenty lending products to the market, including term, asset-based, and equipment loans, to all sectors of the economy. Since its inception in 2007, WOGA and its affiliates have deployed over $10 billion across its product lines, utilizing a disciplined investment process that focuses on delivering risk-adjusted investment returns to investors while establishing long-term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.

About Balmoral Funds, LLC

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.

About Trecora Resources

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.