Madison Dearborn Partners to take Marygold Companies private in all-cash deal

The Marygold Companies, Inc. (TMC) has entered into a definitive agreement with Madison Dearborn Partners (MDP) to become a privately held company through an all-cash transaction. TMC is the sole shareholder of USCF Investments, Inc., which serves as the holding company and sole member of United States Commodity Funds LLC (USCF). USCF is the general partner of United States Brent Oil Fund, LP (NYSE Arca: BNO).

The transaction was publicly announced on September 25, 2026. MDP is identified in the filing as a leading private equity firm based in Chicago. Upon completion of the deal, TMC's common stock will no longer be listed on the New York Stock Exchange. The agreement requires satisfaction of customary closing conditions, including approval from TMC stockholders, regulatory approvals, and specific change-of-control approvals.

The parties expect the transaction to close during the first half of 2027 or earlier, provided these conditions are met. The 8-K filing explicitly states there is no guarantee that the transaction will be completed within this expected timeframe or at all. If the deal closes, TMC and MDP have indicated they will execute on TMC's previously announced transformation strategy to refocus USCF's business at the appropriate time.

United States Brent Oil Fund, LP filed the report with the Securities and Exchange Commission on September 25, 2026. The document was signed by John P. Love, President and Chief Executive Officer, and Management Director of United States Commodity Funds LLC, acting as the general partner for the fund.