Funds managed by global investment company Carlyle have purchased a major stake in medical device contract manufacturer Resonetics in a deal that values the company at around $2.25bn.

The current deal allows Carlyle to join existing investor GTCR as a significant shareholder in Resonetics.

Based in Nashua, New Hampshire, Resonetics offers advanced engineering and manufacturing solutions for the medical device industry.

Resonetics CEO Tom Burns said: “We are thrilled to be partnering with Carlyle as we continue to build upon the growth we’ve achieved in partnership with GTCR.

“Our business has advanced significantly over the past four years, expanding on our scale and capabilities and becoming an increasingly valuable partner to our customers, and we look forward to keeping the momentum going.”

Resonetics has expertise in laser processing, centerless grinding, nitinol processing, thin-wall stainless steel and precious metal tubing, photochemical machining, metal fabrication, and fibre optic sensors.

With a focus on producing technical componentry for medical device applications, the company serves medtech end-markets such as diabetes, neurovascular, ophthalmology, interventional cardiology, and structural heart.

Resonetics has nine Lightspeed Application Development Labs that serve medical device companies across the globe. It has facilities in the US, Costa Rica, Israel, Switzerland, and Canada.

In November this year, the company acquired Hudson Medical Innovations that manufactures microfluidics, point-of-care diagnostics, biosensors and advanced wound care devices.

GTCR managing director Sean Cunningham said: “Under GTCR’s ownership, Resonetics has continued to drive robust organic growth while completing eight add-on acquisitions, including the recent acquisitions of FISO Technologies and Hudson Medical Innovations this past month.

“We look forward to working with the Carlyle team again to continue to aggressively pursue add-on acquisitions and seek to drive organic growth through commercial and operational initiatives.”