M&A Deal Summary

GTCR and The Carlyle Group Acquire Resonetics

On February 1, 2018, private equity firms GTCR and The Carlyle Group acquired medical products company Resonetics from Sverica and Five Points Capital

Acquisition Highlights
  • This is GTCR’s 4th and The Carlyle Group’s 14th transaction in the Medical Products sector.
  • This is GTCR’s 102nd and The Carlyle Group’s 298th transaction in the United States.
  • This is GTCR’s 2nd and The Carlyle Group’s 1st transaction in New Hampshire.

M&A Deal Summary
Date 2018-02-01
Target Resonetics
Sector Medical Products
Buyer(s) GTCR
The Carlyle Group
Sellers(s) Sverica
Five Points Capital
Deal Type Secondary Buyout
Advisor(s) Piper Sandler & Co. (Financial)
Kirkland & Ellis (Legal)

Target

Resonetics

Nashua, New Hampshire, United States
Resonetics is a pioneer in laser micro-manufacturing and provides contract manufacturing services to the life sciences industry. Resonetics designs build and integrate its own laser workstations to solve complex manufacturing challenges and has invested heavily in leading-edge technology. Resonetics was founded in 1987 and is based in Nashua, New Hampshire.

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Buyer(S) 2

Buyer

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.

DEAL STATS #
Overall 106 of 142
Sector (Medical Products) 4 of 5
Type (Secondary Buyout) 21 of 33
State (New Hampshire) 2 of 2
Country (United States) 102 of 137
Year (2018) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-23 EaglePicher Technologies

Joplin, Missouri, United States

EaglePicher Technologies is a provider of batteries and energetic devices for the defense, space and commercial industries, and provides the most experience and broadest capability in battery electrochemistry of any battery supplier. EaglePicher Technologies offers a wide range of battery technology including thermal, nickel hydrogen, lithium carbonmono-fluoride, lithium thionyl chloride, lithium manganese dioxide, lithium sulfur dioxide, lithium ion, reserve lithium oxyhalide, custom battery assemblies and silver zinc batteries. EaglePicher Technologies was founded in 1942 and is based in Joplin, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-07 Dash Financial Technologies

New York, New York, United States

Dash Financial Technologies LLC is a provider of options and equities agency execution services to both buy-side and sell-side institutions. Dash offers a variety of software tools for traders, a regulatory technology suite, and various data/analytics offerings. Through the Dash platform, clients can devise bespoke routing and algorithmic strategies calibrated to their precise execution objectives, with Dash’s trade desk acting as a consultative guide during this process. Dash Financial Technologies LLC was founded in 2009 and is based in New York City.

Sell -
Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.

DEAL STATS #
Overall 610 of 744
Sector (Medical Products) 14 of 17
Type (Secondary Buyout) 92 of 130
State (New Hampshire) 1 of 1
Country (United States) 298 of 349
Year (2018) 1 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-30 Vubiquity - Avail-TVN

Reston, Virginia, United States

Vubiquity, Inc. - Avail-TVN is a provider of digital video services. Working with both service providers and content owners, Avail-TVN is focused on providing its global customer base solutions that simplify content management and distribution, and enable the monetization of content. Vubiquity, Inc. - Avail-TVN is based in Reston, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-14 JD Logistics

Beijing, China

JD Logistics provides the e-commerce business of JD.com to create a more efficient, more integrated and user-friendly logistics network in China. Empowered by science and technology, it provides a full range of supply chain solutions and quality logistics services covering all business areas including warehousing and distribution, from manufacturing to end customers, covering common and special goods. JD Logistics was founded in 2012 and is based in Beijing, China.

Buy -

Seller(S) 2

SELLER

Sverica

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2001
PE ASSETS 1.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sverica Capital Management is a private equity firm that invests in stable or growing, smaller companies with valued less than $150 million. Sverica looks to commit $15 to $50 million per transaction and primarily targets buyout or divestiture situations and avoids businesses in need of restructuring. Broad areas of interest include IT, business services, healthcare, light manufacturing, and industrials. The Firm generally seeks majority control investments, but will also selectively consider minority situations. Sverica Capital Management was formed in 2001 and has offices in Boston and San Francisco.

DEAL STATS #
Overall 18 of 28
Sector (Medical Products) 1 of 2
Type (Secondary Buyout) 6 of 10
State (New Hampshire) 1 of 1
Country (United States) 15 of 24
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-26 Syscon Justice Systems

Richmond, British Columbia, Canada

Syscon Justice Systems Ltd. is a provider of an Offender Management Systems, with major deployments in the US, Canada, UK, and Australia. Syscon offers a full suite of solutions, including prison management, jail management, trust accounting, inmate health records, probation and parole monitoring, and risk assessment tools.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-21 Gener8

Sunnyvale, California, United States

Gener8 is a designer and manufacturer of life science instrumentation, complex clinical devices as well as advanced industrial systems, leveraging expertise in microfluidics, optics, electronics, and embedded systems. Its capabilities include end-to-end design, development, prototype, and low-to-medium volume manufacturing. Gener8 was established in 2002 and is based in Sunnyvale, California.

Buy -
SELLER

Five Points Capital

Winston-Salem, North Carolina, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Points Capital makes both direct private equity and junior capital investments in US-based middle-market companies. Five Points prefers control based investments and will consider opportunities in a variety of industries. For both equity and mezzanine investments, the Firm looks to commit $5 to $25 million of capital in businesses with at least $10 million in sales and $3 million of EBITDA. Five Points Capital was formerly known as BB&T Capital Partners and re-branded in 2015. The Firm was established in 1997 and is based in Winston-Salem, North Carolina.

DEAL STATS #
Overall 32 of 58
Sector (Medical Products) 2 of 2
Type (Secondary Buyout) 19 of 26
State (New Hampshire) 1 of 1
Country (United States) 32 of 58
Year (2018) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-09 List Partners

Atlanta, Georgia, United States

List Partners is a provider of sales intelligence content used by business development professionals who target national advertisers and their agencies across the U.S. and the U.K. The company provides participants in the advertising sales market with a proprietary dataset allowing them to quickly identify and engage the most relevant advertising, media and marketing decision makers at the largest brands, their respective agencies and advertising technology partners. The dataset is delivered through a software-as-a-service platform that seamlessly integrates into business development professionals’ daily workflow. List Partners was founded in 1995 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-30 Precision Aviation Group

Atlanta, Georgia, United States

Precision Aviation Group is a provider of products and value-added services to the worldwide aerospace and defense industry. With nine locations and more than 260,000-square-feet of sales and service facilities in the United States, Canada, Australia, Brazil, and Singapore, PAG uses its distinct business units and customer-focused business model to serve aviation customers through two business functions – Aviation Supply Chain, and its Inventory Supported Maintenance, Repair and Overhaul services. Precision Aviation Group is headquartered in Atlanta, Georgia.

Sell -
Mergr

Product

Company

Legal