Resonetics, a portfolio company of Sverica Capital Management, has acquired Aduro Laser. Financial terms weren’t announced. Aduro, of Davis, California, provides laser processing of tubular components for the medical device industry.
BOSTON–(BUSINESS WIRE)–Sverica Capital Management LLC (“Sverica”) today announced that portfolio company Resoneticshas acquired Aduro Laser (“Aduro”). The investment marks Resonetics’ second acquisition following the original acquisition of Resonetics by Sverica in 2014
Based in Davis, CA, Aduro is an emerging leader in laser processing of tubular components for the medical device industry, serving leading companies in structural heart, peripheral vascular and minimally invasive surgery markets. In just four years, Aduro has established an innovative business model and proprietary technology to shorten lead times dramatically, enabling customers to iterate rapidly and reduce time to market. With a relentless focus on efficiency and eliminating waste, the company also offers incredible value and makes broader adoption of interrupted spiral cut tubing economically viable. Resonetics will market the service as PRIME™ Laser Cut Tubing, a best-in-class solution for quick turn and high volume laser cut tubing used extensively in catheter delivery systems, Nitinol implants and single use instruments.
“We are very excited to partner with Grayson Beck and Demian Backs, who have created a disruptive business model in Aduro,” said Tom Burns, Resonetics CEO. “We share a similar culture with an emphasis on innovation, speed and customer satisfaction. Resonetics will expand capacity with a new facility, additional equipment and more engineering resources to keep lead times the best in the industry.”
“After more than 45 years of laser manufacturing and machine building experience, Demian and I knew we wanted to create something different,” added Grayson Beck, Co-founder and CEO of Aduro Laser. “Joining forces with Resonetics provides additional resources and synergies to provide solutions to our customers on a larger scale.”
Dave Finley, Managing Director at Sverica said, “We are excited to continue to build the capabilities of the premier pure-play laser micro-manufacturing company in the medical device manufacturing industry. Resonetics was acquired in 2014 as a single-location, polymer-focused laser processor of components. Less than three years later, we have entered the metals segment of the industry and service customers globally through six locations. Resonetics is a textbook example of what Sverica strives to do in lower-middle-market investing.”
Founded in 1987, Resonetics is a pioneer in laser micro-manufacturing. Resonetics has a passion for deploying lasers to solve complex manufacturing challenges for the medical device and diagnostics industry and has invested heavily in leading edge technology and developing laser experts. Resonetics designs and builds its own laser workstations and has more than 80 laser workstations in-house, covering a wide spectrum of laser types and wavelengths, including the latest femtosecond and picosecond technologies. Combining state-of-the-art laser systems with a large and innovative technical team allows Resonetics to partner with customers and provide winning solutions that meet all technical, quality and economic requirements. For more information, please visit www.resonetics.com.
About Sverica Capital Management
Sverica is a leading lower-middle-market-focused private equity firm that has raised over $700 million of investment capital across four funds. The firm acquires and actively builds companies that are, or could become, leaders in their industries. Since 2001, 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.