Home News Industry News Kadant Completes Acquisition of Syntron Material Handling

Kadant Completes Acquisition of Syntron Material Handling

WESTFORD, Mass., Jan. 02, 2019 -- Kadant Inc. (NYSE: KAI) today announced the completion of its acquisition of Syntron Material Handling Group, LLC and certain of its affiliates ("Syntron"), a leading provider of material handling equipment and systems to various process industries, from entities affiliated with Levine Leichtman Capital Partners for approximately $179 million, subject to certain customary adjustments. The transaction was financed through borrowings under the Company's revolving credit facility.

"We are excited to welcome Syntron to the Kadant family and look forward to the new opportunities this combination will bring to our business," said Jonathan Painter, president and chief executive officer of Kadant. "Syntron not only extends our breadth of premier offerings to process industries, but also gives us access to new industries that offer potential avenues for growth."

Syntron is based in Tupelo, Mississippi with approximately 250 employees worldwide and revenue of approximately $89 million for the trailing twelve months ended October 31, 2018.


About Kadant
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company's products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with approximately 2,750 employees in 20 countries worldwide. For more information, visit www.kadant.com.

About Levine Leichtman Capital Partners
LLCP is a Los Angeles, California-based private investment firm that has managed approximately $10 billion of institutional capital since its inception. LLCP invests in middle market companies located in the United States and Europe. LLCP is currently making new investments through Levine Leichtman Capital Partners VI, L.P.; LLCP Lower Middle Market Fund, L.P.; Levine Leichtman Capital Partners Europe, L.P.; and Levine Leichtman Strategic Capital, LLC. LLCP has offices in Los Angeles, New York, Dallas, Chicago, Charlotte, London, Stockholm, and The Hague.


Source: Kadant

 
subscription-enewsletter
access-enewsletters
nalco banner
kadant banner
fpinnovations banner
Cristini Banner

Precision Roll Grinders

PaperWeek Banner
fpinnovations banner
buckman banner
New Job Postings
New Job Postings
New Job Postings
Paper Advance Banner