FMC Technologies has sold its diversified product line of conveyor and vibratory mining equipment to Syntron Material Handling, a subsidiary of the Los Angeles-based investment equity group Levine Leichtman Capital Partners.
The new company will be called Syntron Material Handling LLC and will be based in Tupelo, Mississippi, with operations in Salt Lake City, Utah, and Changshu, China. The company will have sales officee in Germany, Mexico, Singapore and Canada.
FMC’s materials handling product line includes conveyors and vibratory equipment used in mining, packaging and the food industries, as well as in aggregates. The equipment is used to load, transport and feed bulk materials.
The acquisition, which was finalized on May 1, had senior debt provided by CIT Finance LLC — which served as sole lead arranger, lead bookrunner and sole administrative agent — as well as Siemens Financial Services Inc and Ares Capital Corporation.
Among Levine Leichtman’s other holdings are Santa Cruz Nutritionals, CiCi’s Pizza, Hackney Ladish, Jon Douglas Real Estate Group, and Luminator Technology Group.