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Wilton, CT – February 3, 2012. Saugatuck Capital Company (“Saugatuck”) is pleased to announce its investment in Tulip Molded Plastics Corporation (“Tulip” or the “Company”), headquartered in Milwaukee, Wisconsin. Tulip will continue to do business as Tulip Corp. Saugatuck teamed with management to acquire the assets of the Molded Products Division from Tulip Corporation in a leveraged buyout. Saugatuck provided equity capital through its investment vehicle Saugatuck Capital Company VII LLC which, along with management, owns 100% of Tulip. First Niagara Bank provided the senior debt financing and Ironwood Capital and Harbert Mezzanine Partners provided the mezzanine financing as well as an equity investment.

Founded in 1982, Saugatuck Capital Company is a long-established private investment firm committed to leveraged recapitalizations, buyouts and growth equity investments in the lower, middle market. Sourcing investment opportunities through an unparalleled set of contacts, Saugatuck has invested in profitable, well-established, service-intensive businesses where it has the requisite experience to drive portfolio company performance improvements. The Firm has been dedicated to a philosophy of hands-on value creation in which exceptional management teams, in partnership with Saugatuck’s capital and expertise, build companies of outstanding value.

Established in 1977, Tulip is a leading manufacturer of parts and components for batteries used in the automotive, truck, off-road vehicle and industrial sectors. The Company’s products, which are predominantly injection plastic components for battery cases and covers and lead bushings for battery terminals, are sold to the leading manufacturers of after-market batteries. Tulip manufactures its products out of two facilities located in both Milwaukee, Wisconsin and Niagara Falls, New York.