GTCR and Regatta Medical’s Strategic Investment in Resonetics

Kirkland & Ellis LLP served as legal counsel and PricewaterhouseCoopers served as accounting advisor to GTCR.

GTCR, a leading private equity firm, announced today that it has made a strategic investment in Resonetics, Inc. (“Resonetics” or the “Company”) through GTCR’s portfolio company Regatta Medical Holdings, LLC (“Regatta Medical”), a partnership with CEO Chip Hance. Going forward, the existing Resonetics management team, led by CEO Tom Burns, will continue in their existing roles as a subsidiary of Regatta Medical.

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 specialties.

The Resonetics investment is another example of how GTCR executes The Leaders Strategy®. In April 2017, GTCR partnered with Mr. Hance to create Regatta Medical and build a market-leading platform in the medical device industry. Prior to partnering with GTCR, Mr. Hance most recently served as Chief Executive Officer of Creganna Medical, a leading supplier of contract manufacturing services for medical devices, where he doubled the business via acquisition and organic growth before completing a successful sale of the company in 2016 to TE Connectivity. Prior to leading Creganna Medical, Mr. Hance spent more than 20 years in senior leadership roles at Abbott Laboratories, most recently as President of Abbott’s Vascular division, building it into a global leader in interventional cardiology with more than $3 billion in revenues.

GTCR and Regatta Medical’s investment in Resonetics will be funded from GTCR Fund XII, a private equity fund raised in 2017 with $5.25 billion of limited partner capital commitments. Existing Resonetics management and Sverica Capital Management, the selling equity sponsor, will retain minority stakes in the Company.

Kirkland & Ellis advised private equity firm GTCR and its portfolio company Regatta Medical Holdings, LLC with a team including Sanford Perl (Picture), Michael Weed and Christopher Thomas.

Involved fees earner: Sanford Perl – Kirkland & Ellis; Michael Weed – Kirkland & Ellis; Christopher Thomas – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: GTCR; Regatta Medical Holdings, LLC;


Author: Ambrogio Visconti