Kadant uses revolver borrowings to finance Syntron Material purchase

By Sarah Lizee

Olympia, Wash., March 19 – Kadant Inc. used borrowings under its revolving credit facility to finance its acquisition of Syntron Material Handling Group, LLC, according to a press release.

Syntron was purchased from entities affiliated with Levine Leichtman Capital Partners for about $179 million.

Kadant makes components and engineered systems used in process industries and is based in Westford, Mass. Tupelo, Miss.-based Syntron is a provider of material handling equipment and systems to various process industries.

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