In partnership with Cerberus’ Supply Chain and Strategic Opportunities platform, Resonant “will continue to pursue its growth trajectory and believes it will stand well-positioned to meet increased customer demand for its technologies, subsystems, and hardware solutions,” the Beavercreek company said in a release.
The amount of the investment was not disclosed in the release, and J. Micah North, the company’s co-founder and chief executive, also declined to disclose it. But the business said the investment and Cerberus’ resources will support the advancement of Resonant’s “facilities, capabilities, and robust pipeline of products for next-generation platforms.”
North said in a recent interview with the Dayton Daily News that he expects the number of Dayton-area employees (about 80 today) to rise.
“It definitely will,” North said. “We’re looking to continue to expand, continue to grow the company.”
“They’re really good people,” he said of Cerberus “They really understand the company.”
In May, North told the Dayton Daily News that Resonant Sciences is refurbishing a former Vineyard Church property on Indian Ripple Road.
“We signed a lease on that and we’ll be moving into it,” North said at the time, adding: “We will move a lot of our assembly work over there.”
The company also has locations on Executive Boulevard and Research Boulevard, not far from the new GE Aviation-Unison Industries home and Northrop Grumman. The business also has locations in Virginia, Colorado and Michigan.
In all, the business has about 100,000 square feet in Beavercreek.
“It’s headquartered here,” North said of Beavercreek. “We started here.”
Michael Palmer, managing director for Cerberus’ Supply Chain and Strategic Opportunities, added: “Resonant’s solutions across the aerospace technology ecosystem are strengthening our nation’s defense in key areas. We’re excited to work with Micah, Ron and the entire Resonant team to support their continued growth and innovation.”
Cerberus Capital Management is a global investment firm.
Baird served as exclusive financial advisor to Resonant Sciences in connection with this investment.
In July 2020, the Ohio Tax Credit Authority approved a 1.686% seven-year tax credit for Resonant. The state expected the business to create 30 full-time positions, generating $3 million in new annual payroll and retaining $6 million in existing payroll.
About the Author
