Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has completed the previously announced acquisition of the products division of the material handling business of FMC Technologies, Inc. (NYSE: FTI). The new company will be named Syntron Material Handling, LLC (“Syntron”).
Headquartered in Tupelo, Mississippi with operations in Changshu, China and Salt Lake City, Utah, Syntron is a leading manufacturer of a diversified product line of conveyor and vibratory equipment used to load, transport and feed bulk materials. The Company’s products are sold to customers throughout the world in the mining, aggregates, packaging and food industries.
Senior debt financing was provided by CIT Finance LLC (as Sole Lead Arranger, Sole Lead Bookrunner and Sole Administrative Agent), Siemens Financial Services, Inc. (as Syndication Agent) and Ares Capital Corporation (as Documentation Agent).