GTCR and Carlyle-Backed Resonetics Announces Acquisition of Agile MV

Rhea-AI Summary

GTCR-backed Resonetics acquires Agile MV, enhancing capabilities in medical device development.

The acquisition aligns with Resonetics' strategy to lead in micro-manufacturing for interventional medical devices. Agile specializes in the rapidly growing electrophysiology and interventional cardiology markets. This marks Resonetics' tenth acquisition since GTCR's investment in 2018, reflecting a commitment to expanding capabilities and serving interventional medical device companies effectively.

Positive

• Acquisition of Agile MV enhances Resonetics' capabilities in product development and device assembly.
• Expands Resonetics' market share in high-growth electrophysiology and interventional cardiology sectors.
• Signifies Resonetics' aggressive growth strategy with ten acquisitions since 2018.

Negative

• None.

Acquisition expands capabilities in interventional medical device product development and finished device assembly

CHICAGO and NASHUA, N.H., June 14, 2022 /PRNewswire/ -- GTCR, a leading private equity firm, announced that its portfolio company Resonetics, a pioneer in advanced engineering and manufacturing solutions for the life sciences industry, has acquired Agile MV ("Agile"). Based in Montreal and founded in 2010, Agile is an emerging leader in product development and turnkey device assembly serving the high-growth electrophysiology and interventional cardiology catheter market.

Agile's expertise in state-of-the-art, minimally invasive and interventional medical devices complements Resonetics' existing product development capabilities in catheter-based delivery systems and implants. Agile represents the tenth add-on acquisition for Resonetics since GTCR invested in the company in February 2018, and the second since Carlyle's strategic investment in Resonetics in December 2021. The acquisition furthers the company's strategy to build a leader in micro-manufacturing for medical devices, targeting fast-growing interventional and minimally invasive applications across the MedTech industry.

Tom Burns, CEO of Resonetics, commented, "Consistent with our initial investment thesis for Resonetics, the acquisition of Agile strategically enhances our capabilities, and further establishes the company's position as a leading service provider to interventional medical device companies."

Sean Cunningham, Managing Director and Co-Head of Healthcare at GTCR, added, "We have great respect for what the Agile team has built, and we look forward to our partnership with them. This represents Resonetics' tenth acquisition since our initial investment, and we expect to continue to aggressively pursue tuck-in acquisitions as well as more transformative opportunities."

About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications 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 $20 billion in over 250 companies. For more information, please visit www.gtcr.com. Follow us on LinkedIn.

About Resonetics
Founded in 1987, Resonetics is a pioneer in advanced engineering and manufacturing solutions for the life sciences industry. Resonetics is a leader in laser processing, centerless grinding, nitinol processing, thin-wall stainless steel & precious metal tubing, photochemical machining, microfluidics, sensor solutions and medical power. With strategically located AGILE Product Development centers and Lightspeed Application Development Labs, Resonetics is committed to quality, speed, innovation and a great customer experience. The company is ISO 13485:2016 certified with 15 facilities and more than 2,000 associates in the United States, Canada, Costa Rica, Israel and Switzerland. Resonetics is backed by leading private equity firms Carlyle and GTCR. Learn more at www.resonetics.com.

About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $325 billion of Assets Under Management as of March 31, 2022, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs nearly 1,900 people in 26 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

CONTACT: Kellie Kennedy, kelliek@theharbingergroup.com, 312-933-4903

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SOURCE GTCR

FAQ

What is the significance of GTCR's acquisition of Agile MV for CG investors?

The acquisition enhances Resonetics' product development capabilities, potentially increasing revenue opportunities in the medical device sector.

How does the acquisition of Agile MV affect the market position of CG?

By acquiring Agile, CG strengthens Resonetics' position in high-growth markets, potentially leading to greater competitiveness.

What markets does Agile MV specialize in?

Agile MV focuses on the electrophysiology and interventional cardiology catheter market.

How many acquisitions has Resonetics made since GTCR's investment?

Resonetics has made ten acquisitions since GTCR invested in the company in February 2018.

What is the expected impact of the acquisition on Resonetics' growth strategy?

The acquisition aligns with Resonetics' strategy to become a leader in micro-manufacturing for medical devices.