PRESS RELEASE:
BOSTON–(BUSINESS WIRE)–November 10, 2015–
Sverica Capital Management LLC (“Sverica”), a private equity investment firm, announced that its portfolio company, Resonetics, the market leader in providing laser micro manufacturing solutions to the medical device and diagnostic industry, had acquired Mound Laser and Photonics Center, Inc. (“Mound Laser”). Mound Laser is a leader in laser micro manufacturing of precise metal components for the medical device and defense industry. Resonetics believes it has the world’s largest capacity of ultrafast laser workstations serving the life sciences industry and can offer customers redundancy with manufacturing sites in the Eastern, Western and Central United States.
With the acquisition of Mound Laser, Resonetics will now expand beyond its current focus of polymers and glass and offer customers a broader array of solutions and material expertise. In addition to long-standing core competencies in laser welding, cutting and machining, Mound has developed expertise using the latest ultrafast laser technologies. The company has also conducted extensive research in micro additive manufacturing and plans to introduce new, proprietary tools that will help medical device designers as they continue to create ever smaller, complex products that challenge the limits of conventional machining and joining technologies.
“The team at Mound Laser has made impressive strides in recent years, taking on very difficult-to-manufacture components in the neurovascular, structural heart and peripheral vascular markets in particular,” said Tom Burns, Resonetics CEO. “The two companies share similar cultures built upon innovation, responsiveness, integrity and a passion for service. We’re excited about the combined technology, know-how and experience that we can now deploy across a wide range of materials in many of the fastest growing segments of the life sciences industry.”
“Resonetics has had great success building a leadership position in laser micro machining of polymers,” added Kevin Hartke, President and Chief Operating Officer of Mound Laser. “Our focus has always been on developing novel laser processes to manufacture the most challenging product features cost-effectively.”
Sverica initially invested in Resonetics in October 2014. Since then, Resonetics has grown by nearly fifty percent and opened a second manufacturing facility in San Diego. Sverica has supported Resonetics by providing board level oversight, M&A support, and facilitating a new debt facility which will provide ample capital for continued organic and acquisitive growth.
About Resonetics
Resonetics is the market leader in providing laser micro manufacturing solutions to the medical device and diagnostic industry. The company’s Lightspeed ADL™ offers a vast array of dedicated laser workstations and experienced engineers to reduce time to market. Resonetics’ expertise with polymers is unmatched, as is our micro laser welding, cutting, machining and marking of a wide range of metals, enabling some of today’s most innovative products to be manufactured reliably. Resonetics is ISO 13485 certified and has been solving customer problems for more than 25 years. Learn more at www.resonetics.com.
About Sverica Capital Management
Sverica Capital Management is a leading private equity firm that has raised over $500 million of investment capital across four funds. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since 1993, Sverica has maintained a “high touch” operating philosophy of taking an active role in portfolio companies. Sverica devotes significant internal resources to help its management teams develop and execute growth strategies. For more information, please visit www.sverica.com.
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Sverica Capital Management LLC
Jordan Richards, 415-249-0126
jordan@sverica.com