FMC Technologies Sells Material Handling Products Business
Results: Business Sold to Financial Buyer
Industry: Manufacturing – Bulk Material Handling Products
FMC Technologies announces the divestiture of its Material Handling Products business, headquartered in Tupelo, Mississippi to Syntron® Material Handling, LLC, a newly formed company of Levine Leichtman Capital Partners, Inc. (LLCP). Stevenson & Company advised FMC Technologies on the sale.
The business is a $100+ million manufacturer of conveyor and vibratory equipment used to load, transport and feed bulk materials. In addition to Tupelo, it has operations in Salt Lake City, Utah and Changshu, China. Primary end markets include coal, mining, aggregates and consumer products. It sells under the Syntron® and Link-Belt® brands which are recognized around the world for exceptional performance and value in material handling and processing equipment.
Stevenson identified, evaluated and marketed the business to both strategic and financial buyers. LLCP’s commitment to partnering with management and its experience successfully acquiring corporate divestitures made them a particularly well suited buyer of the business. All of the employees have been retained and existing management will continue to run the day-to day operations. The transaction allows the material handling business to accelerate its growth plans while allowing FMC Technologies to exit the business and focus on its core interests in the oil and gas industry.
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