Saugatuck Capital has sold PPI-TimeZero to Guardian Capital Partners

Lincoln International (“Lincoln”), a global middle market investment bank, has announced that PPI-TimeZero Inc. (“PPI-TimeZero” or the “Company”), a portfolio company of Saugatuck Capital Company (“Saugatuck Capital”), has been sold to Guardian Capital Partners (“Guardian”). Lincoln advised PPI-TimeZero and Saugatuck Capital in the transaction, the terms of which were not disclosed.

PPI-TimeZero is a leading provider of high mix, complex electronics manufacturing services (“EMS”) to the aerospace & defense, medical, industrial controls and instrumentation industries. PPI’s low-to-medium volume and highly customized electronic manufacturing services include turnkey printed circuit card assembly (“PCA”), card level test, burn-in, conformal coating, sub-assembly, electromechanical assembly and fully tested box build. The Company supports its customers from design and prototyping through production. “We achieved much working with our partners at Saugatuck Capital,” said Dana Pittman, President and Chief Executive Officer, PPI-TimeZero, “and we look forward to a new era with our new partners at Guardian Capital Partners.”

The sale of PPI-TimeZero is another key credential in Lincoln’s highly active electronics practice and represents Lincoln’s second successful sale of a Saugatuck Capital portfolio company in the last 10 months, having previously sold TharpeRobbins Company in March 2010.

“Lincoln did an excellent job of identifying the right potential acquirers on a global basis and managing the process all the way to close,” said Stuart Hawley, Managing Director at Saugatuck Capital. “Lincoln’s persistence and expert advice throughout the process resulted in attractive alternatives for the shareholders and management.”

About PPI-TimeZero, Inc.

PPI-TimeZero was formed in 1999 through the acquisition of PPI, a printed bare board manufacturer, by TimeZero, which was founded in 1971 and manufactured electronic assemblies primarily for the commercial and consumer markets, creating a one-stop-shop solution for its customers. Today, the PPI brand name is known in the aerospace & defense and high-reliability industry for its consistency in quality, delivery, and overall service. Headquartered in Paterson, New Jersey, PPI-TimeZero’s facility is ISO 9001:2000 certified, satisfies J-STD-001D and MIL-STD-I-454 requirements and is International Traffic in Arms Regulation (“ITAR”) registered. (www.ppi-timezero.com).

About Saugatuck Capital Company

Founded in 1982, Saugatuck Capital 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 network of contacts, Saugatuck invests in profitable, well-established, service-driven businesses. 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 outstanding companies. Additional information about Saugatuck is available on the firm’s website at www.saugatuckcaiptal.com.

About Guardian Capital Partners

Guardian Capital Partners, headquartered in Wayne, Pennsylvania, is a funded private equity firm focusing on acquiring manufacturing, consumer products and service companies. Its investment strategy is rooted in management partnership, competitive advantage and value creation, and the firm partners with management teams to provide funding and operational support necessary to create superior value. Guardian’s investment team has significant private equity and operations management experience, and an extensive network of industry and operational resources to support its companies. Additional information about Guardian is available on the firm’s website at www.guardiancapitalpartners.net.

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