Levine Leichtman Capital Partners (LLCP) has acquired NOBLES Worldwide, a supplier of ammunition chutes used in air, naval and ground military applications.
“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,” said Lauren Leichtman, Co-Founder and CEO of LLCP. “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.”
Nobles is a supplier of ammunition chutes, magazines, gun mounts and weapon stations used in air, naval and ground military applications. The company is the largest supplier of ammunition feed systems to the US military and Nobles’ products are used on over 40 military platforms. The company was founded in 1948 and is located northeast of Minneapolis in St Croix Falls, WI (www.noblesworldwide.com).
Levine Leichtman manages approximately $7 billion of capital through private equity partnerships, distressed debt and leveraged loan funds. The firm is currently making new investments through Levine Leichtman Capital Partners V, LP; Levine Leichtman Capital Partners SBIC Fund, LP; and Levine Leichtman Capital Partners Private Capital Solutions II, LP. The firm is based in Los Angeles with offices in Chicago, Dallas, New York and London (www.llcp.com).
“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,” said Vice Admiral John Morgan, NOBLES’ Chief Executive Officer. “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.”
Senior debt financing was provided by Madison Capital Funding (www.mcfllc.com). Nobles was advised by Houlihan Lokey (www.hl.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 4-1-14
