SDR Ventures is pleased to announce that Tensentric, Inc. (“Tensentric” or “the Company”) has received a majority investment from GenNx360 Capital Partners (“GenNx360”) to fuel the Company’s next phase of growth. SDR served as the exclusive sell-side advisor to Tensentric throughout the transaction process.
Based in Boulder, Colorado, Tensentric provides outsourced design, engineering, prototyping, and assembly services for leading Medical Technology, In-Vitro Diagnostic, and Life Sciences companies.
Since its founding in 2009, the Company has quickly established itself as a leading contract development partner, known for its differentiated team of engineers and experience working on the most cutting-edge development projects in the industry.
“We are very enthusiastic to welcome GenNx360 as our partner in what marks an important milestone in Tensentric’s evolution. With their growth-focused mindset and track record of successfully scaling services platforms, GenNx360’s partnership will help us serve our customers better as they look to expedite their product development initiatives,” said Wade Lukianow, Tensentric’s Co-Founder and CEO.
Jeff Gentry, Tensentric’s Co-Founder and COO added, “GenNx360 will undoubtedly help us continue to offer our clients the best-in-class solutions and execute on the next phase of our growth strategy. Our team is incredibly thankful for the level of partnership and trust that Scott Mitchell and the SDR team provided throughout the entire process. SDR’s dedication ensured that Tensentric’s legacy will thrive for years to come.”
Scott Mitchell, Managing Director at SDR Ventures commented, “By working in lockstep with Wade and Jeff, our team was able to approach the market with a highly-targeted plan of attack ensuring that their new partner would provide the resources and expertise to rapidly grow the industry-leading Tensentric brand. After vetting the market participants, GenNx360 emerged as the ideal partner for Tensentric’s long-term strategic vision. Our team is confident that this new partnership will flourish for years to come.”
Founded in 2006 and headquartered in New York City, GenNx360 is a private equity firm focused on acquiring middle-market business-to-business services and industrial companies. GenNx360 invests in companies with proven and sustainable business models in expanding industries, with the objective of implementing value-enhancing operational improvements to accelerate growth, deliver efficiencies and generate strong financial returns.
Pratik Rajeevan, the GenNx360 Principal who led the transaction added, “Wade and Jeff have built a multi-disciplinary, world-class team of engineers, that allows Tensentric to partner with highly innovative customers from early concept development and ideation, through detailed design, prototyping, and assembly for medical, IVD and life-science devices. GenNx360 is eager to work alongside the Tensentric team and usher in a new era of shared success.”
This article was shared with Prittle Prattle News as a Press Release by PRNewswire.
