LOS ANGELES, May 1, 2014 /PRNewswire/ -- Levine Leichtman Capital Partners ("LLCP"), a Los Angeles-based private equity firm, announced today that it has completed the previously announced acquisition of the products division of the material handling business of FMC Technologies, Inc. (NYSE: FTI). The new company will be named Syntron Material Handling, LLC ("Syntron").
Headquartered in Tupelo, Mississippi with operations in Changshu, China and Salt Lake City, Utah, Syntron is a leading manufacturer of a diversified product line of conveyor and vibratory equipment used to load, transport and feed bulk materials. The Company's products are sold to customers throughout the world in the mining, aggregates, packaging and food industries.
Senior debt financing was provided by CIT Finance LLC (as Sole Lead Arranger, Sole Lead Bookrunner and Sole Administrative Agent), Siemens Financial Services, Inc. (as Syndication Agent) and Ares Capital Corporation (as Documentation Agent).
About Levine Leichtman Capital PartnersLevine Leichtman Capital Partners is a Los Angeles, California-based investment firm that manages approximately $7.0 billion of institutional investment capital through private equity partnerships, and various debt and leveraged loan funds. LLCP is currently making new investments through Levine Leichtman Capital Partners V, L.P., Levine Leichtman Capital Partners SBIC Fund, L.P., and Levine Leichtman Capital Partners Private Capital Solutions, L.P. Prior investments by Levine Leichtman Capital Partners include Santa Cruz Nutritionals, CiCi's Pizza, Hackney Ladish, Jon Douglas Real Estate Group, and Luminator Technology Group.SOURCE Levine Leichtman Capital Partners
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