Resonetics has announced its acquisition of Memry Corporation and SAES Smart Materials, Inc. for $900 million.
Headquartered in Bethel, Connecticut, Memry Corporation is a global market and technology leader in Nitinol components.
Nickel titanium, also known as Nitinol, is a metal alloy of nickel and titanium, where the two elements are present in roughly equal atomic percentages.
New Hartford, New York-based SAES Smart Materials creates the Nitinol raw material from nickel and titanium and converts it into various form factors.
Resonetics, which acquired the companies from SAES Getters S.p.A., was founded in 1987. Resonetics is a pioneer in advanced engineering, product development, prototyping and manufacturing solutions for the life sciences industry. Resonetics is backed by private equity firms Carlyle and GTCR.
The transaction is expected to close in 2023, subject to the receipt of required regulatory clearances and approvals and the satisfaction of other closing conditions, including the approval of the SAES Getters S.p.A. board of directors. Until the transaction closes, each company will continue to operate independently. Mediobanca S.p.A. acted as exclusive financial advisor to Resonetics.
According to data captured in the LevinPro HC database, this acquisition marks the third Medical Devices deal of 2023. There were 120 Medical Devices transactions announced in 2022.
