WESTFORD, Mass. (News release) -- Kadant Inc. announced the completion of its acquisition of Syntron Material Handling Group, LLC and certain of its affiliates ("Syntron"), a leading provider of material handling equipment and systems to various process industries, from entities affiliated with Levine Leichtman Capital Partners for approximately$179 million, subject to certain customary adjustments. The transaction was financed through borrowings under the Company's revolving credit facility.

Syntron is based in Tupelo, Mississippi with approximately 250 employees worldwide and revenue of approximately $89 million for the trailing twelve months ended October 31, 2018. Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide.