Admiral Morgan Named Executive Chairman of Nobles Worldwide

Nobles Worldwide, which is backed by Inverness Graham Investments, has appointed retired Navy Vice Admiral John Morgan as executive chairman. Admiral Morgan will serve as Nobles’ chairman of the board and help develop warfighter solutions and lead the strategic growth of the company. St. Croix Fall, Wis.-based Nobles supplies ammunition feed systems to the the U.S. military and its allies.

PRESS RELEASE

Nobles Worldwide, the largest supplier of ammunition feed systems to the U.S. military and its allies, announced today, the first day of AUSA, the appointment of retired Navy Vice Admiral John Morgan as executive chairman. In this new position, Admiral Morgan will serve as chairman of the board and have an active management role in driving the development of innovative warfighter solutions and leading the strategic growth of the company. Nobles is based in St. Croix Falls, Wisc., and is a portfolio company of Inverness Graham Investments, a private equity firm based in suburban Philadelphia.

“This is an exciting time for Nobles, and we are extremely honored to add Admiral Morgan to our leadership team as we continue to grow and enhance the products and solutions we provide to the men and women defending our nation and to our allies around the world,” said Troy Priem, CEO of Nobles. “John’s management experience, combined with his knowledge and understanding of today’s weapons systems and the requirements of the military services that use them, make him an ideal addition to our company. John’s leadership and insight will be a tremendous asset for both Nobles and our customers.”

Admiral Morgan brings to Nobles insight and expertise obtained over more than three decades of distinguished service in the United States Navy. He served as a key advisor to recently retired Admiral Mike Mullen when Mullen was both Chief of Naval Operations and Chairman of the Joint Chiefs of Staff. In that capacity, he directed the creation of a cooperative strategy for 21st-century sea power. In addition, Morgan commanded the USS Enterprise carrier battle group, which played a critical role in operations against al Qaeda and the Taliban following the attacks against the U.S. on 9/11. For his leadership in combat, Morgan was awarded the Bronze Star.

“Special Forces have relied on Nobles for more than half a century,” said Admiral Morgan. “The company has a worldwide reputation as the gold standard for weapon systems. Nobles is on the move to take warfighter solutions to the next level, continuing their long history of delivering greater performance, optimal safety, superior total cost of ownership and what combat users value most – weapons systems they can trust with their lives. I’m pleased to have an opportunity to be a part of that future.”

For more than 60 years, Nobles has been producing ammunition chutes for the U.S. military. The company’s technical expertise in weapons systems, its drive for innovation and its commitment to quality ensure the reliability and timely delivery of systems that meet the unique challenges of the 21st-century warfighter.

Admiral Morgan retired from the U.S. Navy in 2008, following 36 years of distinguished service. In January 2011, he founded Meridian Way Advisors, a consulting firm providing support to military organizations and government solutions providers on issues of maritime prosperity and security. Admiral Morgan serves on a variety of defense-related boards and foundations, and he lectures at the Wake Forest University Business School. He earned an economics degree from the University of Virginia.

About Nobles Worldwide

Founded in 1948, Nobles Worldwide is the leading global provider of high-performance weapons systems solutions. Acquired by Inverness Graham Investments in 2011, Nobles is the largest supplier of ammunition feed systems to all branches of the U.S. military and its allies and is recognized globally for the superior durability of its products, cutting-edge designs, responsive customer service and rigorous quality assurance. Nobles offers ammunition chutes, magazines, gun mounts and weapon stations of lighter, stronger and more flexible materials for a variety of aircraft, helicopters, ships and ground vehicles. Nobles is based in St. Croix, Wisc., where it also has an operations center. For more information, please visit www.noblesmfg.com.

About Inverness Graham Investments

Inverness Graham is an operationally focused, lower middle-market private equity firm headquartered in suburban Philadelphia. Inverness acquires high-growth, innovative manufacturing and service companies with enterprise values of less than $75 million. Senior executives of the Graham Group of industrial businesses founded the firm, which has over $250 million under management.