Levine Leichtman Capital Partners (LLCP) has partnered with management to complete the acquisition of Nobles Worldwide.
Based in St Croix Falls, Wisconsin, and founded in 1948, Nobles is a provider of flex chutes that are used in a variety of air, naval and ground military applications.
Nobles is the largest supplier in its industry to the US military and its allies across the globe. The company's products are used on over 40 military platforms.
The investment in Nobles will be the second investment out of Levine Leichtman Capital Partners Private Capital Solutions.
Lauren Leichtman, co-founder and CEO of LLCP, says: "Nobles has been the market leader in its core products for over 60 years and is known for designing, manufacturing and innovating the highest quality systems to support the US and its allies' troops worldwide. We are excited to partner with Vice Admiral John Morgan and the rest of the Nobles senior management team and look forward to supporting the future growth of the company."
John Morgan, the company's chief executive officer, says: "I am very excited about partnering with LLCP as Nobles seeks to further strengthen its market position and advance in its next stage of growth. LLCP has a strong track record of being a value-added partner to its portfolio companies and I look forward to leveraging their strategic and financial expertise."
Nobles was advised by Houlihan Lokey. Senior debt financing was provided by Madison Capital Funding.
