Resonetics Announces Acquisition Of Medelec
Establishes European headquarters and adds Swiss precision metal tubing and medical components
NASHUA, N.H., June 21, 2018 /PRNewswire/ -- Resonetics 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.
"Sandra and I felt the time was right to find a partner like Resonetics that could help us expand the business further on a global scale" said Marc Butty, President, Medelec. "There are many synergies between the companies and we believe our customers will benefit by combining our resources and capabilities." Medelec will continue to operate as Medelec until October 1 to give customers' sufficient notice and will then become Resonetics Switzerland. Marc and Sandra Butty's leadership will continue while additional resources will be added to the Swiss operations to accommodate future growth and to add dedicated prototyping services to support quick turnaround times for R&D customers.
Resonetics itself was acquired by GTCR through its portfolio company, Regatta Medical, in February 2018. Chip Hance, Executive Chairman Resonetics added "We're thrilled to establish a European presence and add tubing fabrication as a core competency. Medelec has a proud heritage and we are excited to carry on that legacy at 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.
About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Growth Business Services, Technology, Media & Telecommunications, Healthcare and Financial Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy™ - finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $15 billion in over 200 companies. For more information, please visit www.gtcr.com. Regatta Medical was formed in April 2017 as a partnership between Robert "Chip" Hance, Mark Weishaar, and GTCR. Regatta Medical's mission is to build a leading company in the medical device industry by acquiring outstanding medical device products and services businesses. For more information about Regatta Medical, please visit www.regattamedical.com
SOURCE Resonetics
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