Humanetics Innovative Solutions, a Plymouth, Michigan-based designer and manufacturer of sophisticated crash test dummies as well as developer of finite element software models used in computerized crash test simulations, has received a growth financing of undisclosed amount from Maranon Capital.
The financing consisted of a senior revolving credit facility, term loan plus mezzanine debt.
The company, which is backed by middle market private equity firm Wynnchurch Capital, Ltd., plans to use the proceeds for product development and further expansion into geographic markets where automotive safety testing and standards are becoming increasingly important.
Humanetics also provides technical support and laboratory services to clients including virtually every major automotive OEM and Tier 1 supplier. Other important users of Humanetics’ products and services include military, government, aerospace, insurance and research institute clients.