Month: November 2015

Boston, Massachusetts, November 3, 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
Synoptek provides information technology management services and support to organizations 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 http://www.resonetics.com.

San Francisco, California – November 2, 2015: Sverica Capital Management LLC (“Sverica”), a private equity investment firm, announced today that it has acquired Synoptek LLC (“Synoptek”) on October 30, 2015, which marks Sverica’s first investment made from Fund IV. Synoptek is an outsourced IT managed services provider that delivers a comprehensive suite of solutions for clients including 24 x 7 help desk support, cloud hosting, disaster recovery, as well as consulting and project management services.

Synoptek is headquartered in Irvine, CA with major offices in Denver, Sacramento, San Francisco, and Boise. By planning, building, monitoring, and operating complex IT infrastructure on behalf of clients, Synoptek allows its customers to focus on the key strategic initiatives facing their businesses. “We bring enterprise technology services to organizations that don’t have large IT departments. Ultimately our customers have better IT capabilities and services by leveraging Synoptek’s shared IT services such as cloud computing infrastructure, network management services, security services, and help desk services.” said Tim Britt, Chief Executive Officer of Synoptek. “Our partnership with Sverica will enable us to continue to execute our aggressive plans for acquisitive and organic growth as we strive to become the leading branded IT managed services provider in the country.”

Frank Young, Managing Director at Sverica, added: “We started tracking Synoptek in 2013 and first met Tim early in 2014. He and the team have impressed us with the tremendous growth they have experienced in that timeframe. Synoptek is now emerging as one of the largest managed service providers in the country, and we are very excited to partner with them to continue on their path of innovation and growth.”

About Synoptek
Synoptek provides information technology management services and support to organizations worldwide. The company offers solutions to manage and operate IT infrastructure using their advanced IT service management (ITSM) capabilities, automated toolsets, and skilled technologists. Synoptek’s trusted team of IT professionals provides superior end user and device management support to improve business performance and success. Synoptek offers a complete suite of managed IT services at the service levels necessary for customers to excel as high performing organizations. For more information, please visit http://www.synoptek.com.