Kadant completes acquisition of Syntron Material Handling

Kadant Inc. completes acquisition ofSyntron Material Handling Group, LLCand certain of its affiliates (“Syntron”), a leading provider of material handling equipment and systems to various process industries, from entities affiliated withLevine Leichtman Capital Partnersfor approximately$179 million, subject to certain customary adjustments. The transaction was financed through borrowings under the Company’s revolving credit facility.

Syntron is based inTupelo, Mississippiwith approximately 250 employees worldwide and revenue of approximately$89 millionfor the trailing twelve months endedOctober 31, 2018.

Kadant Inc.is a global supplier of high-value, critical components and engineered systems used in process industries worldwide.