SUNNYVALE, Calif., Feb. 26, 2020 /PRNewswire/ — 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.
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.