The Marygold Companies, Inc. (TMC) has entered into a definitive agreement with Madison Dearborn Partners (MDP) to become a privately held company in an all-cash transaction. The deal, announced publicly on September 25, 2026, will remove TMC's common stock from the New York Stock Exchange upon completion.
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 acts as the general partner of United States Gasoline Fund, LP, a Delaware limited partnership that trades on NYSE Arca, Inc. under the ticker symbol UGA. The fund's principal executive offices are located at 1850 Mt. Diablo Boulevard, Suite 640, Walnut Creek, California.
The transaction is expected to close during the first half of 2027, or earlier if customary closing conditions are met. These conditions include approval from TMC stockholders, regulatory approvals, and certain change-of-control approvals. The filing notes that there is no guarantee the transaction will be completed within the expected time frame or at all.
Madison Dearborn Partners is described as a leading private equity firm based in Chicago. Both TMC and MDP have indicated that after the transaction closes, they will execute TMC's previously announced transformation strategy to refocus USCF's business at the appropriate time.
United States Gasoline Fund, LP filed the report with the U.S. 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.