Tonka Bay Equity Partners Announces
Minnetonka, MN - Tonka Bay Equity Partners ("Tonka Bay") today announced the closing of its acquisition of Circuit Check, Inc. Founded in 1978, Circuit Check employs 160 people in seven locations including Malaysia, China and Mexico. Circuit Check is headquartered in Maple Grove, Minnesota.
Circuit Check designs and manufactures interfaces to test printed circuit board assemblies. The Company's services include test strategy design, test programming, design-for-test consulting, and training. Circuit Check is the interface industry leader in North America.
Peter Kooman, Managing Principal of Tonka Bay and Circuit Check board member said, "We are excited to partner with the Circuit Check management team. We are impressed with their industry knowledge and the relationships they have developed with their customers. We believe Circuit Check has the potential to pursue high growth opportunities driven by electronic device proliferation, design changes, and shortening product life cycles."
"The acquisition by Tonka Bay offers our business additional resources for continued growth," stated Circuit Check President Greg Michalko. "Tonka Bay's experience and access to capital will also assist us in continuing to provide our customers with the unrivaled level of service they are accustomed to receiving."
Circuit Check's senior management team and St. Cloud, Minnesota based Granite Equity Partners co-invested in the transaction.
About Tonka Bay Equity Partners
Located in Minnetonka, Minnesota, Tonka Bay Equity Partners acquires and invests in small and medium
sized companies in the manufacturing and business services sectors. Tonka Bay manages two private equity
funds with combined capital of $200 million. Its limited partners include major financial institutions
and high net worth individuals. The funds are licensed as Small Business Investment Companies (SBICs).
For more information, call (952) 345-2035 or visit www.tonkabayequity.com.
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