Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that is has completed the sale of Syntron Material Handling Group, LLC and certain of its affiliates (“Syntron” or the “Company”) to Kadant Inc. (NYSE: KAI).
Syntron, based in Tupelo, MS, is a leading designer and manufacturer of highly engineered vibratory and conveying equipment used to convey, load and feed bulk materials across a diversified set of end markets, such as: mining, aggregates, food processing and packaging. The Company serves a broad base of blue-chip customers through its two trusted and recognized brands of Syntron® and Link-Belt®. LLCP acquired Syntron in 2014 and since that time has transformed the business into a standalone platform that is delivering substantial growth.
Lauren Leichtman, CEO of LLCP, said, “The Syntron investment has been very rewarding for both LLCP and the Company’s management team. We are proud to have enhanced the value of Syntron meaningfully under our ownership by leading the initial carve-out process, recruiting a best-in-class management team, and driving both growth and diversification through new customer additions and key end market expansion. We believe that Syntron has a very bright future ahead and wish the management team continued success.”
Andy Blanchard, CEO of Syntron, commented, “We have truly enjoyed our partnership with the team at LLCP, who have propelled our key strategic, commercial and operational initiatives. We will miss working with the LLCP team but are very excited to enter our next phase of growth under Kadant.”
Houlihan Lokey served as financial advisor and Honigman Miller Schwartz and Cohn LLP served as legal advisor to Syntron in connection with the sale.
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 2,500 employees in 20 countries worldwide. For more information, visit www.kadant.com.