CHICAGO and NASHUA, N.H., Dec. 3, 2021 /PRNewswire/ — GTCR, a number one personal fairness agency, introduced in the present day that its portfolio firm, Resonetics (or the “Firm”) has bought a minority fairness stake to funds affiliated with world funding agency Carlyle (NASDAQ: CG), valuing the Firm at roughly $2.25 billion. Carlyle will be part of GTCR as a significant shareholder in Resonetics on account of the transaction.
Based in 1987 and headquartered in Nashua, NH, Resonetics is a frontrunner in micro-manufacturing for medical gadgets, concentrating on fast-growing interventional and minimally-invasive purposes throughout the MedTech trade. The Firm is concentrated on fabricating extremely technical componentry for advanced medical gadget purposes, serving end-markets which might be experiencing strong progress as clinicians shift away from higher-risk, invasive procedures, in direction of extra interventional approaches. Resonetics has established itself as a mission-critical provider enabling improvements in a number of excessive progress MedTech end-markets together with diabetes, neurovascular, ophthalmology, interventional cardiology, and structural coronary heart, amongst others.
GTCR made its preliminary funding in Resonetics in partnership with MedTech trade govt Robert “Chip” Hance. Per its Leaders Technique™ method, GTCR initially partnered with Mr. Hance to kind Regatta Medical in April 2017 to pursue alternatives within the medical gadget sector. Since GTCR’s funding, GTCR and Mr. Hance have partnered with the Resonetics administration group, led by CEO Tom Burns, to considerably develop the Firm’s income and EBITDA by investments in sturdy natural progress and strategic add-on acquisitions.
“We have appreciated the chance to put money into Resonetics, supporting its natural progress initiatives and its eight add-on acquisitions, together with the current acquisitions of FISO Applied sciences and Hudson Medical Improvements, throughout our possession,” mentioned Sean Cunningham, Managing Director at GTCR. “We’re thrilled to proceed our partnership with Chip Hance, Tom Burns, and all the Resonetics administration group as they appear to construct on their success within the coming years,” he added.
“Our enterprise has superior considerably over the previous 4 years, as we have expanded our manufacturing capability, grown our facility footprint and constructed larger scale,” mentioned Tom Burns, CEO, Resonetics. “Now we have loved the excellent partnership with GTCR as we have constructed Resonetics and are excited to be partnering with GTCR and Carlyle on this subsequent chapter as we proceed to develop our enterprise and improve our product capabilities to raised serve our clients.”
“Now we have been terribly impressed with the expansion and improvement of Resonetics over the past a number of years and are trying ahead to our ongoing partnership with the Firm,” added GTCR Co-CEO and Managing Director Dean Mihas. “I need to thank Chip Hance and Tom Burns for his or her excellent management and sit up for our subsequent chapter with all the Resonetics group and our companions at Carlyle.”
Kirkland & Ellis acted as authorized advisor and Piper Sandler acted as monetary advisor to Resonetics and GTCR. Debevoise & Plimpton acted as authorized advisor and Barclays acted as monetary advisor to Carlyle.
Based in 1980, GTCR is a number one personal fairness agency targeted on investing in progress firms within the Development Enterprise Companies, Know-how, Media & Telecommunications, Healthcare and Monetary Companies & Know-how industries. The Chicago-based agency pioneered The Leaders Technique™ – discovering and partnering with administration leaders in core domains to establish, purchase and construct market-leading firms by transformational acquisitions and natural progress. Since its inception, GTCR has invested greater than $20 billion in over 250 firms. For extra data, please go to www.gtcr.com.
Carlyle (NASDAQ: CG) is a world funding agency with deep trade experience that deploys personal capital throughout three enterprise segments: World Non-public Fairness, World Credit score and World Funding Options. With $293 billion of belongings underneath administration as of September 30, 2021, Carlyle’s function is to take a position properly and create worth on behalf of its traders, portfolio firms and the communities by which we stay and make investments. Carlyle employs greater than 1,800 folks in 26 workplaces throughout 5 continents. Additional data is out there at www.carlyle.com. Comply with Carlyle on Twitter @OneCarlyle.
Based in 1987, Resonetics is a pioneer in superior engineering and manufacturing options for the life sciences trade. Resonetics is a frontrunner in laser processing, centerless grinding, nitinol processing, thin-wall stainless-steel and treasured steel tubing, photochemical machining, steel fabrication, and fiber optic sensors. With 9 Lightspeed Utility Improvement Labs positioned strategically to serve medical gadget firms world wide, Resonetics is constructed on a basis of high quality, velocity, and innovation to ship best-in-class worth with a customer-centric method. The corporate is ISO 13485:2016 licensed with services in the US, Costa Rica, Israel, Switzerland, and Canada. For extra data, please go to www.resonetics.com.