Los Angeles, California – Avante Mezzanine Partners (“Avante”) announced today that in the first quarter of 2014 it realized full exits from its investments in Network Instruments, LLC and NOBLES Worldwide, Inc. Network Instruments was acquired by JDS Uniphase Corp. from Thoma Bravo in January 2014. NOBLES Worldwide was acquired by Levine Leichtman Capital and management from Inverness Graham Investments in March 2014. Avante generated 28% and 23% unlevered compounded annual rates of return over the life of its total subordinated debt and equity investment in Network Instruments and NOBLES Worldwide, respectively.
“2013 was a record year for Avante for capital deployment,” stated Avante Founder and Partner Jeri Harman. “We expect 2014 will be an even more productive year for our team and are thrilled to begin it with two very successful realizations for our Limited Partners.”
“We feel fortunate to have served as the financing partner to Thoma Bravo and Inverness Graham on these and other deals,” said Avante Partner Natasha Fox. “Helping terrific businesses like Network Instruments and NOBLES realize their full growth potential is the ultimate goal we are hoping to achieve through our deep financing experience and flexible capital.”