Madison Dearborn Partners to take Marygold Companies private

Madison Dearborn Partners has entered into a definitive agreement to acquire The Marygold Companies, Inc. in an all-cash transaction that will take the company private. The deal, announced on September 25, 2026, involves the Chicago-based private equity firm purchasing the sole shareholder of USCF Investments, Inc., the holding company for United States Commodity Funds LLC. United States Commodity Funds LLC serves as the general partner of United States Gasoline Fund, LP, which trades under the ticker UGA on NYSE Arca, Inc.

The transaction is expected to close during the first half of 2027, or earlier upon the satisfaction of customary closing conditions. These conditions include approval from The Marygold Companies stockholders, regulatory approvals, and specific change-of-control approvals. Upon completion, The Marygold Companies will become a privately held company, and its common stock will no longer be listed on the New York Stock Exchange.

The filing was submitted by United States Gasoline Fund, LP, with John P. Love serving as President and Chief Executive Officer of its general partner. The document notes that there is no guarantee the transaction will be completed within the expected timeframe or at all. Madison Dearborn Partners and The Marygold Companies have indicated that, following the close of the deal, they will execute on a previously announced transformation strategy aimed at refocusing the business of United States Commodity Funds LLC.