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