Fidelity Capital Buys Noble Concepts
Fidelity Capital Group Holdings Inc. said it acquired Noble Concepts Inc., a furniture maker. Financial terms weren’t disclosed.
Fidelity Capital, based in Laguna Beach, said it will form a new unit called Noble Concepts-Fidelity Inc., From which it expects net income of $500,000, on sales of $5 million, over the next 12 months. Noble’s senior managers, who will retain their positions, own 2O% of the new unit.