Kadant acquired Syntron Material Holding from Levine Leichtman for $179m.

Kadant, a global supplier of high-value, critical components and engineered systems, acquired Syntron Material Holding, a leading provider of material handling equipment and systems to various process industries, from Levine Leichtman, a private equity firm, for $179m. “Our acquisition of Syntron provides Kadant with premier products and services that extend our footprint into new process industries,” said Jonathan Painter, president and chief executive officer of Kadant. “Like Kadant, Syntron’s technology adds high value to critical processes in resource-intensive industries and is a leader in its markets with a history of stable earnings and a strong aftermarket business. In addition, Syntron has an excellent management team which we expect will make a strong contribution to our business.”