Nobles Worldwide acquired by investment firm

Special to The Freeman

March 31, 2014

ST. CROIX – Levine Leichtman Capital Partners announced Monday it has partnered with management to complete the acquisition of St. Croix-based Nobles Worldwide, Inc.

Founded in 1948, Nobles provides 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 U.S. military and its allies across the globe. The company’s products are used on over 40 military platforms, according to the announcement.

“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 U.S. 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,” said Lauren Leichtman, co-founder and CEO of LLCP, in a statement.

The investment in Nobles will be the second investment out of Levine Leichtman Capital Partners Private Capital Solutions, L.P., according to the announcement.

“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,” said Vice Admiral John Morgan, the company’s chief executive officer, in a statement.

Nobles was advised by Houlihan Lokey. Senior debt financing was provided by Madison Capital Funding, LLC.

Levine Leichtman Capital Partners is a private investment firm with offices in Los Angeles, New York, Dallas, Chicago and London.