Levine Leichtman Acquires FMC Material Handling
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Levine Leichtman Acquires FMC Material Handling

fmc2 nfLevine Leichtman Capital Partners (LLCP) has entered into an agreement to acquire the material handling products business of FMC Technologies. Upon closing of the transaction, expected early in the second quarter, the business will be re-named Syntron Material Handling.

Upon closing, Syntron Material Handling will be a manufacturer of conveyor and vibratory equipment used to load, transport and feed bulk materials. The products are sold to customers throughout the world in the mining, aggregates, packaging and food industries. Syntron will be headquartered in Tupelo, MS and will have operations in Changshu, China and Salt Lake City, UT.

Lauren Leichtman nf“FMC Technologies’ material handling business has been a market leader in its core markets for decades and is known for manufacturing the highest quality bulk material handling equipment throughout the world,” said Lauren Leichtman, Co-Founder and CEO of LLCP. “We are excited to partner with the experienced senior management team and look forward to supporting the future growth of the company.”

Senior debt financing will be provided by CIT Finance (as Sole Lead Arranger, Sole Lead Bookrunner and Sole Administrative Agent), Siemens Financial Services (as Syndication Agent) and Ares Capital Corporation (as Documentation Agent).

Levine Leichtman Capital Partners manages approximately $7 billion of capital through private equity partnerships, distressed debt and leveraged loan funds. The firm is currently making new investments through Levine Leichtman Capital Partners V, LP; Levine Leichtman Capital Partners SBIC Fund, LP; and Levine Leichtman Capital Partners Private Capital Solutions II, LP. The firm is based in Los Angeles with offices in Chicago, Dallas, New York and London (www.llcp.com).

© 2014 PEPD • Private Equity’s Leading News Magazine • 3-25-14

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