Mergers & Acquistions – Technology M&A is thriving

on 02 | 05 | 2019

GTCR-backed Resonetics has acquired Caribou Technologies, expanding the buyer’s services into centerless grinding, forming, coiling, and machining. The deal represents Caribou’s third acquisition for Resonetics in precision micro-manufacturing over the past year, following investments in Medelec and STI Laser. Caribou also grows Resonetics in the medical devices sector. “Consistent with our initial investment thesis for Resonetics, the Caribou acquisition strategically enhances the company’s capabilities, geographic reach and customer portfolio,” says Resonetics CEO Chip Hance. “We believe that the recent acquisitions combined with the company’s strong organic growth have established Resonetics as a leading supplier of specialized componentry for interventional medical device companies.” GTCR invested in Resonetics in 2018. Kirkland & Ellis and PwC advised GTCR.

Technology M&A is thriving, and private equity firms are hot on the trail of innovations that will drive sustainable value to customers and make companies more efficient, more effective and less expensive to run. Among the developments appealing to PE investors are: artificial intelligence, data management, data virtualization, digital marketing, healthcare IT, industrial automation, the Internet of Things, machine-to-machine learning, payment processing and Software-as-a-Service. To gain more insights into what kinds of tech deals will dominate the field in 2019, Mergers & Acquisitions reached out to 10 private equity firms that are active investors in technology: Francisco Partners, Genstar, Great Hill, HGGC, Insight, LLR, Riverside, Silver Lake, TA and Vista.

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