Month: February 2020

San Francisco, California — February 27, 2020 – Sverica Capital Management LP (“Sverica”), a private equity investment firm, announced today that it has made an investment in Cytracom (“Cytracom” or the “Company”), a leading provider of cloud-based unified communications (“UCaaS”) software and solutions built exclusively for the Managed Service Provider (“MSP”) channel.

Based in Dallas, TX, Cytracom has over two thousand MSP partners throughout North America.  As the move to the cloud continues, Cytracom’s UCaaS offering enables its partners to expand their service portfolios and provide true end-to-end managed IT services. The Company plans to invest further into features that empower its MSP partners to better sell, support, and manage UCaaS for their customers.

“Our focus has always been on enabling MSPs to deliver best-of-breed cloud-based voice and messaging solutions,” said Zane Conkle, co-founder and CEO of Cytracom. “A huge driver of our growth has been our transformation into a truly comprehensive UCaaS offering. This investment from Sverica allows us to accelerate our growth and empower more partners with a leading channel-only UCaaS solution for their portfolio.”

The senior management team, including co-founder and CEO Zane Conkle, will continue to lead the Company. Frank Young, Managing Partner at Sverica, along with Michael Dougherty, Vice President at Sverica, will join Cytracom’s Board of Directors.

“Through its commitment to innovation and reputation for reliability, Cytracom has positioned itself to take advantage of the tremendous market opportunity and widespread adoption of cloud communication solutions,” said Frank Young. “We look forward to partnering with Cytracom’s senior leadership as they drive the Company through the next phase of growth.”

About Cytracom
Founded in 2008 and based in Dallas, TX, Cytracom provides unified communications software exclusively through the MSP channel. With a proprietary platform built on flexible, cloud-based technology, Cytracom delivers a UCaaS suite tailored to small and medium-sized business needs. The Company’s 100% channel-driven model provides its end users the ease and comfort of working with a local, trusted managed service provider. To learn more visit www.cytracom.com.

San Francisco, California – February 25, 2020 – Gener8 LLC (“Gener8”), a portfolio company of Sverica Capital Management LP (“Sverica”), announced today that it has completed its acquisition of Symbient Product Development, LLC (“Symbient”), a leading provider of design engineering for polymer life sciences consumables, based in Carlsbad, California.

With the acquisition of Symbient, Gener8 will expand beyond its core focus on advanced instrumentation to add companion consumable devices and will now offer customers a complete turnkey instrument and consumable solution for their engineering and manufacturing needs. In addition to long-standing core competencies in design engineering, rapid prototype mold fabrication and injection molding, Symbient has developed assembly capabilities to facilitate low-to-medium volume manufacturing. Combined with its deep expertise in materials science and fluid dynamics, Symbient has emerged as a key player in the point-of-care diagnostics and drug delivery markets.

“The team at Symbient has built a tremendous business, taking on high complexity engineering projects with best-in-class turnaround times,” said David Brakenwagen, Gener8 CEO. “We are already collaborating on a number of customer programs which are yielding great success and are excited to provide this differentiated end market solution with the decades of combined technology, know-how and experience.”

“Symbient’s focus has always been on meeting our customers’ needs – top-flight engineering, quality product, fast turnaround time. We saw a likeminded partner in Gener8 on the instrument side and look forward to the additional resources and synergies to provide solutions to our customers on a larger scale,” added Scott Castanon, Founder and CEO of Symbient.

Alira Health served as a strategic advisor to Gener8 on the transaction.

About Gener8
Gener8, founded in 2002, offers full product lifecycle engineering and manufacturing for highly complex instruments and products within the highly regulated Life Sciences and Medical Device markets.  The services that Gener8 provides allow for an agile and fast time to market solution that results in high reliability solutions for customers.  With locations in Sunnyvale, CA and Boston, MA Gener8 operates in the corridors of innovation and maintains all industry specific certifications.  For more information, please visit www.gener8.net.

About Sverica Capital Management
Sverica Capital Management is a leading growth-oriented private equity firm that has raised over $1.1 billion across five funds. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since inception, Sverica has followed a “business builder” approach to investing and takes an active supporting role in its portfolio companies. Sverica devotes significant time and internal resources to help its management teams develop and execute growth strategies and proactively looks for levers to pull to accelerate growth by reinvesting back into those companies. Sverica firmly believes in building businesses collaboratively that can endure for the long term by starting with a strong foundation and bringing the right people and playbook to drive reinvestment and ultimately strong returns for our investors. For more information, please visit sverica.com.

Boston, Massachusetts – Feb 3, 2019 – Sverica Capital Management LP (“Sverica”), a private equity investment firm, today announced that on February 1st it made a strategic investment in Procare LTC (“Procare” or the “Company”), which operates closed door pharmacies servicing the long-term care segment.

Based in Farmingdale, New York, Procare is a leading operator of pharmacies in New York, Connecticut, Massachusetts and Ohio serving skilled nursing, assisted living, and other long-term care facilities. Founded in 2007 by Tom Hyde and Paul Meyeroff, both trained pharmacists and veterans of the long-term care pharmacy sector, Procare was built from the ground up to provide the highest level of service to its partner facilities and patients. Procare currently services more than 150 facilities in five states and employs more than 400 staff across its markets.

Sverica’s strategic investment will help facilitate Procare’s expansion into new markets.  Tom Hyde, Founder and CEO commented, “We are excited about partnering with Sverica to take Procare to the next level. Our search for a capital partner focused on firms that understood Procare’s unique service model, which separates us from larger, national competitors. Sverica appreciated that Procare’s service level is at the heart of Procare and shared our vision for how to expand responsibly into new markets without sacrificing quality.”

Dave Finley, Managing Partner at Sverica said “We are pleased to partner with Tom, Paul and the entire Procare team to expand into new geographies. Procare’s tremendous growth over the past several years is a testament to their culture and customer-focused model.” Gregg Osenkowski, Partner at Sverica added “Procare has reimagined the long-term care pharmacy business by focusing relentlessly on the small details that matter to facilities and patients. We are looking forward to helping the Procare team continue their impressive growth while maintaining the high standards of quality and service that they have exhibited in their existing markets.”

About Procare LTC
Procare LTC was formed in 2007 by veterans of the long-term care pharmacy sector that realized the need to go back to more personalized customer service fundamentals of quality care. Procare LTC was founded on a basic premise—to provide the highest level of customer service while delivering the best economic value to the facilities and residents we serve. This is achieved through highly qualified and trained staff at every level or our organization. Collectively, we understand the importance of providing positive clinical outcomes in a cost-effective manner.  Exceeding your expectations is what we are all about.  For more information, please visit www.procareltc.com.