Gener8 Chooses Costa Rica for First Manufacturing Plant Outside United States
Gener8 LLC (“Gener8”), a portfolio company of Sverica Capital Management LP (“Sverica”), announced today that it has expanded its manufacturing footprint by launching a new facility in Costa Rica.
Gener8’s 30,000 square feet manufacturing facility is located in La Lima industrial Park in Cartago. The state-of-the-art facility will enable highly complex electromechanical instrument manufacturing in an ESD-controlled environment and ISO Class 8 cleanroom.
“Just as Gener8 has aggressively built a complete biotech instruments design services solution comprised of hardware, software, and micro-fluidic cartridges, the Costa Rican site adds the last piece for a complete product life cycle solution – efficient, high-volume manufacturing. This is a compelling offering for our customers” said Jerry Jurkiewicz, Gener8 CEO.
“We chose Costa Rica due to its wealth of technical talent, its eager and available workforce, and its geographic and time zone proximity to our US operations. I’d like to thank the Costa Rican government and CINDE for creating such a business-friendly environment and for making the process of launching a site here so seamless,” Jurkiewicz added.
Manuel Tovar, the Minister of Foreign Trade stated, “Costa Rica is a regional leader in the sophistication of manufacturing processes with a proven track record. Thanks to this, Gener8 honors us with the decision to establish its first manufacturing plant outside the United States in our country. The investment will allow 60 Costa Ricans to have quality employment in the manufacture of electromechanical instruments. We are an ideal location for smart manufacturing industries, which operate with a high level of complexity and generate a wide range of products while contributing to the revitalization of the economy”.
“The arrival of Gener8 on national soil presents us with a great opportunity to go beyond activities related to designing and manufacturing highly complex instruments and boost the research and development of new technologies for medical diagnostics and clinical laboratory equipment. This result is a reflection of the huge efforts that we have made as a country in the last several years to turn into a world leader in attracting medical device companies, occupying fifth place after powerhouses such as Germany, the United States, and France,” commented Jorge Sequeira, managing director of CINDE.
Gener8 will employ 60 employees in the first 12 months with an aggressive growth projection in the coming years.
“The high complexity of instruments we design, and manufacture will bring exciting job opportunities for engineers and technicians with experience in mechatronics, systems integration, and software testing” said Alfred Macha, Vice-president of Costa Rica Operations, Gener8.
Gener8, founded in 2002, is a leading provider of turnkey design and manufacturing services specializing in high-complexity products, primarily for medical device and diagnostics applications. Gener8 maintains state-of-the-art facilities and a world-class engineering team with more than 40 PhDs spanning a multitude of disciplines, including electrical, mechanical, software, optical, and systems engineering. For more information, please visit www.gener8.net.
About Sverica Capital Management
Sverica Capital Management is a leading growth-oriented private equity firm that has raised over $1.1 billion across five funds. The firm acquires, invests in, and actively builds companies that are, or could become, leaders in their industries. Since its inception, Sverica has followed a “business builder” approach to investing and takes an active supporting role in its portfolio companies. Sverica devotes significant time and internal resources to help its management teams develop and execute growth strategies and proactively looks for levers to pull to accelerate growth by reinvesting back into those companies. Sverica firmly believes in building businesses collaboratively that can endure for the long term by starting with a strong foundation and bringing the right people and playbook to drive reinvestment and ultimately strong returns for our investors. For more information, please visit www.sverica.com.