BOSTON–(BUSINESS WIRE)–February 1, 2018–
Sverica Capital Management LLC (“Sverica”) and GTCR introduced in the present day the signing of an settlement to recapitalize Resonetics LLC (“Resonetics”). Sverica elevated its funding alongside GTCR, which acquired a majority curiosity within the firm. Resonetics administration will proceed of their present roles and be important shareholders in the corporate. The transaction is predicted to shut in early February.
Founded in 1987 and headquartered in Nashua, New Hampshire, Resonetics is a number one medical gadget contract manufacturing group (“CMO”), specializing in laser micro-manufacturing for interventional medical gadgets. The firm’s capabilities embrace precision laser prototyping and manufacturing, together with creating options as small as one micron, a fraction of a human hair, in quite a lot of supplies. Over the previous 30 years, Resonetics has developed a various base of blue chip medical gadget clients, a extremely skilled staff of technical engineers and scientists, and a well-positioned facility community in main medical gadget manufacturing hubs. This platform allows the corporate to work with its clients throughout a variety of interventional merchandise and medical gadget segments, together with neurovascular, diabetes, structural coronary heart and different interventional merchandise.
This marks an vital milestone in what has been a really profitable partnership between Sverica and Resonetics. In 2014, Sverica acquired Resonetics and has since labored with administration to construct a North American chief in medtech manufacturing. Since Sverica’s funding, the Company has grown from one to 6 places, executed two strategic acquisitions and tripled income. Chip Hance, ex-CEO of Creganna and a Resonetics board director, will proceed to play a management function, working with Tom Burns, Resonetics CEO, in rising the corporate into a worldwide chief.
“Sverica has been a fantastic companion, supporting the dramatic development of Resonetics over the past three years. GTCR has a formidable observe file within the healthcare area serving to corporations develop through natural initiatives and thru strategic acquisitions. We look ahead to persevering with the connection with Sverica and dealing with Chip and GTCR to reinforce our capacity to serve the medtech trade with a broader set of capabilities,” stated Tom Burns of the transaction.
Dave Finley, Managing Director at Sverica, stated, “Resonetics has been a very profitable development story for Sverica’s business-builder mannequin throughout our High-Value Industrial and Healthcare verticals. We had been more than happy to increase the connection with Chip Hance, Tom Burns and the Resonetics staff, and to work with GTCR and the sources they are going to deliver to bear to proceed to develop and scale the corporate.”
Founded in 1987, Resonetics is a pioneer in laser micro manufacturing and offers contract manufacturing providers to the life sciences trade. Resonetics designs, builds and integrates its personal laser workstations to resolve advanced manufacturing challenges and has invested closely in vanguard know-how. Combining state-of-the-art laser techniques with a big and progressive technical staff permits Resonetics to companion with clients and supply profitable options that meet all technical, high quality and financial necessities. Learn extra at www.resonetics.com.
About Sverica Capital Management
Sverica is a number one lower-middle-market-focused non-public fairness agency that has raised over $700 million of funding capital throughout 4 funds. The agency acquires and actively builds corporations which are, or may change into, leaders of their industries. Since 2001, Sverica has maintained a “excessive contact” working philosophy of taking an lively function in portfolio corporations. Sverica devotes important inner sources to assist its administration groups develop and execute development methods. For extra info, please go to www.sverica.com.
Sverica Capital Management
Nathalie Allen, 415-249-4906
This article sources info from VentureBeat