Author: gradycampbell

Boston, Massachusetts – October 11, 2018 – Sverica Capital Management LP (“Sverica”) announced today that Women’s Health USA (“WHUSA”) has entered into a joint venture arrangement with Arizona OBGYN Affiliates (“AOA”), based in Phoenix, Arizona, a leading OBGYN group practice with 32 physicians and 20 mid-level providers. AOA consists of 5 branches and 10 offices in the greater Phoenix metro area.

Dr. Michael Urig, FACOG, who serves as Chairman of AOA, spoke enthusiastically about the partnership expansion and the potential it brings for AOA’s future success. “We look forward to our ongoing partnership with Women’s Health USA in order to continue delivering great and affordable care to our patients along with keeping our autonomy as physicians. This partnership allows us to focus more on patient care while enjoying combined expertise in the business aspects of our practice. I’m excited and proud of our AOA physicians and partners who have helped build this wonderful service for women in the Phoenix area.”

Andrew Villa, MD, the President of the group, added. “We are excited to work with Women’s Health USA to further our mission to provide exceptional healthcare to women through Arizona’s leading women’s health practice. Our new partnership will enhance our efforts to bring the most advanced, innovative, and highest quality medical care to our communities. Moving forward together will allow us to expand our reach into other communities throughout Arizona, elevating the level of care to women.”

Goran Dragolovic, CEO at Women’s Health USA, commented on the company’s market and purpose: “Our mission is to support physicians in the women’s health field by protecting their clinical autonomy and allowing them to maintain control of their practice, and by empowering them to more effectively design and deliver optimal care for their patients. Drs. Urig and Villa and the rest of the AOA providers have a collective vision, passion and commitment to quality that is palpable, and we are energized by this opportunity to partner with them.”

About Women’s Health USA
Founded in 1997, WHUSA provides OBGYN, In Vitro Fertilization, and other specialty women’s health practices with a full suite of practice management solutions including payor contracting, revenue cycle management, EMR support, financial & human resources management, merger & acquisition support, ancillary services development, and risk management services.  WHUSA’s unique partnership model enables physicians and physician groups to maintain their independence, while leveraging the resources of a national organization.  For more information, please visit www.whusa.com.

San Francisco, California – July 31, 2018: Sverica Capital Management LP (“Sverica”), a private equity investment firm, announced today that its portfolio company, Synoptek, has completed its acquisition of Indusa, a global technology company focused on end-to-end enterprise software solutions and services. The acquisition helps further position Synoptek as one of the leading digital transformation and IT management providers and bolsters its capabilities across a variety of key Microsoft technologies.

“This acquisition means we have all of the delivery capabilities to plan, build, and manage complete integrated solutions in the cloud coupled with an emphasis on compliance and security,” said Tim Britt, CEO of Synoptek. “With our breadth and depth of expertise, we can deliver a complete digital transformation, helping organizations leverage an integrated technology platform that will simplify their IT, accelerate change more cost effectively, and enable them to achieve business results faster.”

“The acquisition of Indusa aligns directly with our strategy of moving up the technology stack to the application level, deepens our expertise in a variety of high growth service areas, and expands our global delivery capacity,” added Frank Young, Managing Partner at Sverica.

Along with their current managed support services, Synoptek will be able to further offer predictive analytics, business intelligence, and process innovation solutions. Additional capabilities will include:

• Business consulting and business systems implementation
• Predictive analyticsand enhanced internet-of-things delivery capabilities
• Business systems planningand implementation expertise across CRM, analytics, eCommerce, ERP, as well as productivity and collaboration solutions
• Additional cloud migration and support capabilities
• Highly skilled personnel across: Microsoft Dynamics (365, AX, CRM), Power BI for Office 365, Azure Data Factory, Azure SQL Data Warehouse, Azure Analysis Service, Tableau, and Magento
• Expansive expertise across broad platforms within Microsoft and Amazon Web Services

About Synoptek
Synoptek provides information technology management services, consulting and IT leadership to organizations worldwide. The firm manages and operates IT infrastructure with 24/7 operations, automated toolsets, and highly 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 https://synoptek.com/.

Resonetics, which is backed by GTCR and Sverica Capital Management (“Sverica”), announced today that it has acquired Medelec, Puidoux, Switzerland, a leading supplier of metal tubing and other components to the medical device industry. Founded in 1952, Medelec has evolved over three generations of ownership by the Butty family. The company has developed a reputation for the highest quality tubing used in medical devices and works with a wide range of metals including assorted stainless steels and precious and semi-precious metals. In addition to fabricating tubing from flat stock, Medelec offers additional manufacturing capabilities including laser cutting and welding and CNC machining.

“We are excited about the Medelec team joining Resonetics. Marc and Sandra Butty have established a very strong reputation in the Medtech industry for precision and quality and have made significant investments in technology to complement their decades of experience” said Tom Burns, President & CEO, Resonetics.

About Resonetics
Founded in 1987, Resonetics is a pioneer in laser micro manufacturing and provides contract manufacturing services to the life sciences industry. Resonetics designs, builds and integrates its own laser workstations to solve complex manufacturing challenges and has invested heavily in leading edge technology. 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. Learn more at www.resonetics.com. Resonetics was acquired by Sverica in October 2014 and recapitalized by Sverica in February 2018 with GTCR taking a majority stake and Sverica and Resonetics management retaining a minority stake in the company.

DeFY partners with best-in-class and emerging cybersecurity technology vendors to build tailored security programs for its clients, which include leading enterprises in the financial services, healthcare, manufacturing, and retail verticals throughout the United States. DeFY provides front-end consultation and assessment services, as well as integration, testing, and support services across a wide variety of security technologies.

“The DeFY team is excited to announce our partnership with Sverica as we continue to drive growth with a strategic investor who has experience in cybersecurity. We have established a great long-term relationship with the Sverica team dating back to their investment in Accuvant, and are excited to be working with them again as we endeavor to build a best-in-class cybersecurity solutions provider”, said Justin Domachowski, Founder and CEO of DeFY. Domachowski will continue to lead the Company, while Frank Young, Managing Partner at Sverica, and Michael Dougherty, Vice President at Sverica, will join DeFY’s Board of Directors as part of the transaction. David Roshak, the former CFO of Accuvant and Optiv, will also be joining the Board as an Independent Director.

“In just a few short years, Justin and the DeFY team have rapidly built a successful business and developed extremely strong customer relationships with a number of leading enterprises. We look forward to partnering with Justin and DeFY to help guide the Company through continued growth and national expansion”, said Frank Young, Managing Partner at Sverica.

Michael Dougherty, Vice President at Sverica, added “We believe DeFY is well-positioned to capitalize on the continued positive tailwinds in cybersecurity. The landscape of technologies and threats is evolving daily and increasing in complexity. DeFY can help enterprises navigate this environment to build robust security programs, as well as expand the reach and effectiveness of its technology partners.”

About DeFY Security
DeFY is a leading cybersecurity solutions provider based outside of Pittsburgh, Pennsylvania. DeFY partners with top cybersecurity technology vendors to deliver solutions that meet the needs of enterprise clients across a variety of industries. Founded in 2017, DeFY has rapidly grown to become a leader in the space. For more information, please visit https://www.defysecurity.com/.

Boston, Massachusetts – April 5, 2018 – Sverica Capital Management LP (“Sverica”) announced today that Women’s Health USA (“WHUSA”) has entered into a joint venture arrangement with Central Texas OB/GYN Associates (“CTOA”), based in Austin, Texas.  In this joint venture, WHUSA will provide CTOA access to capital and professional resources needed to expand market share and provide the necessary tools to focus on superior customer service and ensure an enhanced care delivery platform for its patients.  As with all WHUSA partners, a key objective is to deliver on the triple aim – to improve care experiences, health outcomes and total cost of care for female patients.

“We are excited to partner with CTOA, a national preeminent and respected leader in women’s health care,” said Women’s Health USA CEO Goran Dragolovic. “Their long legacy and uncompromising commitment to patient care and clinical excellence made them ideal partners for us and we look forward to bringing an expanded set of solutions and value to women patients, their employers and insurers, in central Texas and beyond.”

“Adding the resources of Women’s Health USA to Women’s Health Texas, CTOA’s Austin-based MSO, gives us enormous advantages,” says Dr. Paul Murphree, President of CTOA. “This partnership allows our physicians to focus even more on the high quality, patient-centered care that is our hallmark. By working with other Women’s Health USA physicians around the country, we’ll be able to improve the exceptional value we already provide, while expanding our care into new areas.”

With this change, CTOA will become known as Women’s Health Texas.

About Women’s Health USA
Founded in 1997, WHUSA provides OBGYN, In Vitro Fertilization, and other specialty women’s health practices with a full suite of practice management solutions including payor contracting, revenue cycle management, EMR support, financial & human resources management, merger & acquisition support, ancillary services development, and risk management services.  WHUSA’s unique partnership model enables physicians and physician groups to maintain their independence, while leveraging the resources of a national organization.  For more information, please visit www.whusa.com.

Boston, Massachusetts – February 1, 2018 – Sverica Capital Management LLC (“Sverica”) and GTCR announced today the signing of an agreement to recapitalize Resonetics LLC (“Resonetics”).  Sverica increased its investment alongside GTCR, which acquired a majority interest in the company.  Resonetics management will continue in their existing roles and be significant shareholders in the company.  The transaction is expected to close in early February.

Founded in 1987 and headquartered in Nashua, New Hampshire, Resonetics is a leading medical device contract manufacturing organization (“CMO”), specializing in laser micro-manufacturing for interventional medical devices. The company’s capabilities include precision laser prototyping and manufacturing, including creating features as small as one micron, a fraction of a human hair, in a variety of materials. Over the past 30 years, Resonetics has developed a diverse base of blue chip medical device customers, a highly experienced team of technical engineers and scientists, and a well-positioned facility network in major medical device manufacturing hubs. This platform enables the company to work with its customers across a wide range of interventional products and medical device segments, including neurovascular, diabetes, structural heart and other interventional products.

This marks an important milestone in what has been a very successful partnership between Sverica and Resonetics. In 2014, Sverica acquired Resonetics and has since worked with management to build a North American leader in medtech manufacturing. Since Sverica’s investment, the Company has grown from one to six locations, executed two strategic acquisitions and tripled revenue. Chip Hance, ex-CEO of Creganna and a Resonetics board director, will continue to play a leadership role, working with Tom Burns, Resonetics CEO, in growing the company into a global leader.

“Sverica has been a great partner, supporting the dramatic growth of Resonetics over the last three years. GTCR has an impressive track record in the healthcare space helping companies grow via organic initiatives and through strategic acquisitions. We look forward to continuing the relationship with Sverica and working with Chip and GTCR to enhance our ability to serve the medtech industry with a broader set of capabilities,” said Tom Burns of the transaction.

Dave Finley, Managing Director at Sverica, said “Resonetics has been a very successful growth story for Sverica’s business-builder model across our High-Value Industrial and Healthcare verticals. We were very pleased to extend the relationship with Chip Hance, Tom Burns and the Resonetics team, and to work with GTCR and the resources they will bring to bear to continue to grow and scale the company.”

About Resonetics
Founded in 1987, Resonetics is a pioneer in laser micro manufacturing and provides contract manufacturing services to the life sciences industry. Resonetics designs, builds and integrates its own laser workstations to solve complex manufacturing challenges and has invested heavily in leading edge technology. 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. Learn more at www.resonetics.com.

San Francisco, CA – October 26, 2017 – Sverica Capital Management LLC (“Sverica”), a private equity investment firm, announced today it has reached an agreement to sell Syscon Justice Systems Ltd. (“Syscon”) to N. Harris Computer Corporation (“Harris”), a wholly-owned division of Constellation Software Inc. (TSX: CSU) (“Constellation”).  Based in Richmond, British Columbia, Syscon is a provider of Offender Management Systems (OMS) to various county, state, and national governments throughout the world.

Sverica acquired a majority interest in Syscon in July 2010. Over the course of its investment, Sverica recruited a new management team and invested in technology modernization efforts which have allowed Syscon’s feature-rich solutions to be deployed at top-end corrections agencies and manage over 400,000 offenders globally.

Jean (John) Soucy, President of Harris’ Public Sector Group, commented, “The acquisition of Syscon expands our capability to serve correctional institutions across North America, the United Kingdom and Australia. We are excited to have the opportunity to bring forth such comprehensive OMS applications, thanks to Syscon’s global team of specialists.”

“Sverica has been a tremendous partner to Syscon as we continue to build market leading Offender Management software solutions for governments throughout the world,” said Syscon CEO Mark Derraugh. “The support and guidance provided by Sverica has positioned us well for future success with Harris.”

About Syscon
Syscon is a leading international provider of 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. For more information, visit http://www.syscon.net/

Boston, Massachusetts – August 28, 2017 – Sverica Capital Management LLC (“Sverica”) today announced that portfolio company Resonetics has 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.”

About Resonetics
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.

Boston, Massachusetts – August 10, 2017 – Sverica Capital Management LLC (“Sverica”) today announced that it had acquired a majority interest in Women’s Health USA (“WHUSA”).  The investment marks Sverica’s fourth investment from Fund IV.

Based in Avon, CT, WHUSA is a leading national physician practice management organization focused on women’s health, including OBGYN and In Vitro Fertilization.  WHUSA provides physician practices with a full suite of practice management solutions including revenue cycle management, payor contracting, EMR & technology management, financial & accounting, risk management, and others.  WHUSA’s unique model creates true partnerships, which allow affiliate physician groups to retain their identity and autonomy while providing best-in-class operational management, capital for growth, and liquidity to partner physicians.  Robert E. Patricelli, founder and CEO, said, “Our new partnership with Sverica will give WHUSA the capital and backing to grow faster and to be more supportive of women’s health physicians who are looking to remain independent but at the same time be part of a national network of high quality professionals.”

Dave Finley, Managing Director at Sverica said, “We are pleased to partner with WHUSA and its management team to continue building the leading women’s health organization in the US.”  Gregg Osenkowski, Vice President at Sverica added, “We were attracted to WHUSA because of their joint venture model which allows physicians to remain autonomous but also leverage all the resources and expertise of a national practice management platform.”

About Women’s Health USA
Founded in 1997, WHUSA provides OBGYN, In Vitro Fertilization, and other specialty women’s health practices with a full suite of practice management solutions including payor contracting, revenue cycle management, EMR support, financial & human resources management, merger & acquisition support, ancillary services development, and risk management services.  WHUSA’s unique partnership model enables physicians and physician groups to maintain their independence, while leveraging the resources of a national organization.  For more information, please visit www.whusa.com.

Boston, Massachusetts – July 27, 2017 – Sverica Capital Management LLC (“Sverica”) today announced the signing of a purchase agreement to sell Offsite Archive Storage and Integrated Services (“OASIS” or “the Company”) to Montagu Private Equity.

OASIS is a fast-growing provider of Records and Information Management (RIM) solutions, including secure document storage, shredding, imaging and scanning, and data management. This marks the culmination of a very successful partnership between Housatonic Partners (“Housatonic”) and Sverica in the building of a European RIM, during which the Company executed over twenty add-on acquisitions, increasing revenue approximately 4x during Housatonic’s and Sverica’s eight-year investment period.

After becoming the first institutional investors in OASIS in 2009, Housatonic and Sverica supported an experienced management team, which were brought to the Company by the investors, in expanding the Company’s footprint from the Republic of Ireland to include the UK, Belgium and the Netherlands. The 2014 acquisition of Cintas’s European RIM assets was a transformational investment that provided a strong foothold on the European mainland with valuable data management capabilities.

Will Thorndike, Managing Director at Housatonic, said “We were very excited to partner with Dennis and Brian at Oasis which was our fourth investment (and second with Dennis at the helm) in records management — an industry which exemplifies the economic characteristics we focus on. Dennis and Brian have done a terrific job building the business and we wish them the best of luck going forward with their new partners.”

“The tremendous growth and business transformation accomplished by OASIS during our investment period would not have been possible without the deep experience of industry veteran and Executive Chairman Dennis Barnedt and the skillful leadership of CEO Brian Connolly,” said Dave Finley, Managing Director at Sverica. “We are grateful we had the opportunity to serve as the first institutional capital provider to the Company, and are pleased with what we were able to accomplish together.”

“Housatonic and Sverica have been fantastic partners and were instrumental in facilitating our growth,” said Dennis Barnedt. “Their vision of consolidating a fragmented European RIM market allowed us to take advantage of the huge market opportunity that we will continue to pursue with Montagu.”

About OASIS Group
Serving clients since 1999, OASIS Group is one of the largest and most diverse professional record and information management companies in Europe. Headquartered in Dublin, Ireland with locations across the EU, OASIS Group employs over 300 team members and offers its services to over 5,000 clients throughout several industries including financial, legal, healthcare, government and educational sectors. Most recently, OASIS Group was awarded a position on the ‘Inc. 5000 Europe 2017’ list of fastest-growing private companies in Europe. For more information, visit www.oasisgroup.com

San Francisco, California – June 21, 2017 – Sverica Capital Management LLC (“Sverica”), a private equity investment firm, announced today that they have acquired iWave Information Systems Inc. (“iWave” or the “Company”) from Jamie Hill of Charlottetown PEI.  This acquisition marks Sverica’s third investment made from its fourth fund. iWave is a Software as a Service (SaaS) company that offers fundraising intelligence to healthcare, education, and non-profit organizations.

Based in Charlottetown, Prince Edward Island, Canada, iWave provides access to data and proprietary analytics to help prospect researchers, fundraisers, and other development professionals determine which donor prospects to ask, how much to ask for, and when to ask.  For the past five years, iWave has been one of the fastest growing prospect research software companies in North America and currently serves more than 2,000 client organizations.  The partnership with Sverica will further the Company’s goal to become a stronger global prospect research data and software company.

“Partnering with Sverica will expand our capacity to deliver the best value for our client organizations, provide rewarding careers for our team members and create value for our stakeholders,” said Gerry Lawless, iWave CEO. “Most importantly, this will position us to build on our long-term strategy to produce a category leading-company that fundamentally changes the way nonprofits find major gifts to support their great causes.”

Ross Beattie is joining the Company as Executive Director and Vice Chairman, bringing deep leadership experience as the former CEO of HGS Canada. “iWave has a great opportunity to build upon its momentum, and we are excited to partner with Sverica as we continue to grow.  iWave is well positioned to become the leading provider of fundraising intelligence, and we look forward to leveraging Sverica’s experience in realizing that vision,” said Ross Beattie.

Jordan Richards, Managing Director at Sverica, added “Gerry and the iWave team have built a great company that has experienced significant growth over the past five years while serving their clients with a powerful data-driven software solution.  We are excited to partner with Ross and Gerry and reinvest back into the Company to create new avenues of growth and opportunity for the Company’s employees, customers, and partners.”

About iWave
iWave bundles philanthropic and wealth data into user-friendly software solutions.  iWave’s “360 Search” capabilities allow subscribers to efficiently research individuals and companies across multiple datasets through one unified search and their batch analytics capabilities allow users to screen entire prospect databases at once.  From schools like Yale and Stanford to healthcare and arts organizations like Doctors Without Borders and the Smithsonian Institute, iWave has assisted over 6,000 organizations in the United States, Canada, and overseas.  For more information, please visit www.iWave.com