Noble International Ltd. announced Thursday that it has acquired Pullman Industries Inc., a manufacturer of tubular and shaped structures using roll forming and other processes, particularly for the automotive industry. The purchase price was $120 million.
To fund a portion of the acquisition, Noble arranged a $70 million term loan and a $40 million revolving line of credit. Noble anticipates the additions of $200-$215 million in revenue for 2007 as a result of the acquisition.
“Our collective design and product development capabilities support the industry’s move toward tubular structures that we believe are needed to meet regulatory requirements and customer demand for greater safety, yet lighter and more fuel-efficient vehicles.” said Noble’s CEO, Thomas L. Saeli.