Kadant to acquire Syntron Material Handling for $US179M
December 13, 2018 By P&PC Staff
December 13, 2018 – Kadant Inc., supplier of engineered systems for process industries, will acquire Syntron Material Handling Group for approximately US$179 million.
Syntron supplies material handling equipment and systems to process industries including pulp and paper, mining, aggregates, food processing and packaging. The company manufactures conveying and vibratory equipment at its facilities in Tupelo, Mississippi and Changshu, China under the Link-Belt and Syntron brands.
“Our acquisition of Syntron provides Kadant with premier products and services that extend our footprint into new process industries,” says Jonathan Painter, president and chief executive officer of Kadant. “Syntron has an excellent management team which we expect will make a strong contribution to our business.”
Syntron has approximately 250 employees worldwide and its trailing 12 months’ revenue ended October 31, 2018 was approximately US$89 million. Kadant is based in Westford, Massachusetts, with 2,500 employees in 20 countries worldwide.
The acquisition is expected to close in January 2019.
Print this page