Sverica International has acquired Resonetics, a provider of laser micromachining manufacturing services, and a portfolio company of Corporate Fuel Partners.
“We are looking forward to working with CEO Tom Burns and the rest of the team at Resonetics,” said Dave Finley, Managing Director at Sverica. “The outsourcing trends and shift to miniaturization and polymers play to the company’s strengths. Resonetics will be a great addition to the Sverica portfolio, as it fits well with our focus on niche manufacturers that have track records of success and demonstrated growth prospects.”
Resonetics provides laser micromachining manufacturing services for medical device and diagnostic companies, as well as other markets requiring precision laser processing of polymers and glass. The company has significant capacity for laser micromachining polymers in ultra-violet wavelengths and its expertise extends to features as small as one micron (Editor’s Note: A micron is about .00004 inches. For size comparison, a human red blood cell is about 5 microns across. A human hair is about 75 microns wide). The company also designs, builds and services laser workstations to meet specific customer needs. Resonetics is headquartered northwest of Boston in Nashua, NH (www.resonetics.com).
“We’re excited to partner with Sverica as we embark upon the next phase of our growth strategy,” said Tom Burns, Resonetics CEO. “Their expertise and experience working with specialty manufacturers, as well as their access to capital will be important as we take advantage of opportunities in expanding markets.”
Sverica invests in service oriented businesses and light industrial manufacturers. The firm targets companies with enterprise values under $100 million and EBITDAs greater than $3 million. Sverica was founded in 1993 and has over $425 million of assets under management across three funds. The firm has offices in Boston and San Francisco (www.sverica.com).
“We are proud of having been associated with the very professional team at Resonetics, the growth of the company while we were involved and the return we were able to generate for our stakeholders,” said John Simons, Partner at Corporate Fuel Partners.
Corporate Fuel Partners, which first invested in Resonetics in November 2007, invests in middle market companies with strong niche market positions that are located in the Northeastern United States. The firm is affiliated with Corporate Fuel Advisors, an investment banking and business advisory firm that provides mergers & acquisitions and capital raising services to middle market companies. Corporate Fuel Partner is based in New York (www.corporatefuelpartners.com).
2014 PEPD • Private Equity’s Leading News Magazine • 10-23-14