Stamford, CT – Saugatuck Capital Company is pleased to announce the sale of Data Circuit Systems, Inc. to Merix Corporation (NASDQ-MERX). Data Circuits is located in San Jose, California. Saugatuck Capital acquired the company along with the management team through Saugatuck Capital Limited Partnership IV in 2000.

Data Circuit Systems is a premier quick-turn manufacturer of complex, multi-layer printed circuit boards and provider of related engineering services. An experienced management team, together with strong technical capabilities, enables Data Circuit Systems to manufacture complex printed circuit boards in very compressed time frames. The majority of its sales are for prototypes and new product introductions. Data Circuit Systems distinguishes itself through delivery of superior service and support systems to its customers. Merix, located in Forest Grove, Oregon, is a leading manufacturer of technologically advanced, multilayer, rigid printed circuit boards for use in sophisticated electronic equipment.

This is the third liquidity event in Saugatuck Capital Company Limited Partnership IV in 2004. In June, Saugatuck Capital Company recapitalized Tharpe Holding Company, located in Statesville, North Carolina, and sold its interest in SmartMail Services, located in Atlanta, Georgia, to Deutsche Post Global Mail USA. Tharpe operates employee recognition programs for service, retirement, performance and safety occasions. SmartMail provides low-cost and high value-added delivery services of small parcels and flat-size mail to residential and business destinations through 12 nationwide processing centers.

Saugatuck Capital is a private investment firm specializing in middle market acquisitions and growth equity investments. Since 1982, the Firm has been dedicated to the philosophy that exceptional management teams, in partnership with Saugatuck’s capital and expertise, can build companies of outstanding value.

For further information, please visit www.saugatuckcapital.com.

Thomas J. Berardino
Managing Director