Resonetics, which is owned by Regatta Medical, a portfolio company of GTCR, has acquired Michigan-based Tru Tech Systems Inc, a supplier of precision grinding services for the medical device market and CNC grinding equipment for the machine tool industry. No financial terms were disclosed.
NASHUA, N.H., Sept. 4, 2019 /PRNewswire/ — Resonetics announced today that it has acquired Tru Tech Systems, Inc. (“Tru Tech”), based in Michigan, a leading supplier of precision grinding services for the medical device market and CNC grinding equipment for the machine tool industry. Since its founding in 1989, Tru Tech has grown consistently by providing rapid prototypes, timely service and great value for core wires and mandrels used extensively in interventional life-saving products. The company also designs, builds and services grinding equipment for its own use and for other industrial markets. Tru Tech is led by Steve Smarsh, President and CEO, and Toby Roll, Vice President, and operates out of facilities in Mt. Clemens and Lewiston, Michigan.
“We are excited to welcome the Tru Tech team to Resonetics as customers will benefit greatly from our combined capabilities,” said Tom Burns, President and CEO, Resonetics. “Over the last 24 months we have completed five acquisitions of exceptional companies that provide complimentary technologies to the Resonetics core platform. Today, Resonetics’ 850 employees have the expertise and resources to provide customers with complex, tight-tolerance components and sub-assemblies, enabling the launch of innovative new technology to treat the most demanding medical applications.”
Tru Tech is a specialist in centerless grinding of stainless steel, nitinol, PEEK and other polymers utilizing proprietary technology developed over thirty years. With machine design, automation expertise and 100+ grinding systems producing more than 6 million ground components annually, Tru Tech complements well the specialty grinding and machining capabilities Resonetics recently acquired. “The Tru Tech team is excited about the added scale and synergies gained by joining Resonetics,” said Steve Smarsh. “With the Resonetics global sales organization and strategic relationships, we look forward to serving more customers on a broader scale while ensuring our existing customers continue to receive exceptional service. Importantly, Resonetics has cultivated long-standing relationships with key customers and employees; values that we share.”
Founded in 1987, Resonetics is a pioneer in laser micro manufacturing and provides contract manufacturing services to the life sciences industry. The company designs its own customized laser systems that are purpose-built to solve complex manufacturing challenges. Resonetics also is a leader in centerless grinding, thin-wall, stainless steel tubing fabrication, precious metal forming, nitinol processing and other critical machining services. With six Lightspeed Application Development Labs located strategically to serve MedTech clusters around the world, Resonetics is built on a foundation of quality, speed and innovation to deliver best-in-class value with a customer-centric approach. The company is ISO 13485:2016 certified with facilities in the United States, Costa Rica, Israel and Switzerland. Resonetics is owned by Regatta Medical, a portfolio company of GTCR. Learn more at www.resonetics.com
About GTCR and Regatta Medical
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Growth Business Services, Technology, Media & Telecommunications, Healthcare and Financial Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $15 billion in over 200 companies. For more information, please visit www.gtcr.com. Regatta Medical was formed in April 2017 as a partnership between Robert “Chip” Hance, Mark Weishaar, and GTCR. Regatta Medical’s mission is to build a leading company in the medical device industry by acquiring outstanding medical device products and services businesses. For more information about Regatta Medical, please visit www.regattamedical.com