Levine Leichtman exits Nobles Worldwide


Levine Leichtman Capital Partners said Oct. 9 that it sold Nobles Worldwide to Ducommun Inc. Financial terms weren’t announced. Nobles, of St. Croix Falls, Wisconsin, designs and makes ammunition handling systems for the U.S. Armed Forces and its allies.

PRESS RELEASE

LOS ANGELES, Oct. 9, 2019 /PRNewswire/ — Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has sold Nobles Worldwide Inc. (“Nobles” or the “Company”) to an affiliate of Ducommun Incorporated (NYSE: DCO).
Nobles, based in St. Croix Falls, WI, is the global market leader in the design and manufacturing of ammunition handling systems for the U.S. Armed Forces and its allies. With a legacy that spans over 70 years, the Company supplies key aircraft, naval ship and ground vehicle platforms.
Micah Levin, Managing Director of LLCP, said, “The Nobles investment has been very successful for LLCP, our partners and the Company’s management team. Since our initial investment in 2014, we are proud to have enhanced the value of Nobles by investing in a best-in-class management team, driving growth and diversification through international and ground vehicle business development, accelerating product innovation, and implementing operational improvements. We are excited for the future of Nobles, and we wish the team continued success.”
Will Wennberg, President of Nobles, commented, “It has been a true pleasure partnering with the LLCP team through this time of unprecedented growth. We have appreciated their support in advancing our strategic initiatives. We have benefitted significantly from our collaboration and are excited to enter the next phase of growth.”
Houlihan Lokey served as financial advisor and Honigman LLP served as legal advisor to Nobles in connection with the sale.
About Levine Leichtman Capital Partners
LLCP is a Los Angeles, California-based private investment firm that has managed approximately $10.7 billion of institutional capital since its inception. LLCP invests in middle market companies located in the United States, the United Kingdom and Europe. LLCP is currently making new investments through Levine Leichtman Capital Partners VI, L.P., Levine Leichtman Capital Partners Europe II SCSp, LLCP Lower Middle Market Fund, L.P. and Levine Leichtman Strategic Capital, LLC. LLCP has offices in Los Angeles, New York, Dallas, Chicago, Charlotte, London, Stockholm and The Hague.
About Ducommun Incorporated
Ducommun Incorporated delivers value-added innovative manufacturing solutions to customers in the aerospace, defense and industrial markets. As the successor to a business that was founded in 1849, the Company specializes in two core areas – Electronic Systems and Structural Systems – to produce complex products and components for commercial aircraft platforms, mission-critical military and space programs, and sophisticated industrial applications. For more information, visit www.ducommun.com.
SOURCE Levine Leichtman Capital Partners