Tonka Bay Announces Dividend Recapitalization of CCI

June 1st, 2011

Minnetonka, MN - Tonka Bay Equity Partners ("Tonka Bay") today announced the completion of a dividend recapitalization of its portfolio company, Circuit Check Holdings, Inc. ("CCI"), a provider of test solutions for printed circuit board assemblies based in Maple Grove, Minnesota.  The proceeds from the recapitalization provided a distribution for shareholders and funding for future growth.  M&I Bank provided financing for the transaction. 

Tonka Bay, in partnership with management, acquired CCI in January2007.  Peter Kooman, Managing Principal of Tonka Bay and a CCI board member, said "Over the past four years, the CCI team led by Greg Michalko has executed on our investment strategy that focused on distinguishing the company as the clear innovation leader in supplying electrical test systems and fixtures to the electronics industry.  We are proud of our close partnership with this highly successful management team, which continues to deliver strong operating and financial performance." 

"I continue to be excited about the management team and the company's prospects," stated CCI CEO Greg Michalko.  "Our experience and resources put us in a position to provide our customers with the innovative solutions they need."

About Circuit Check Holdings, Inc.

Circuit Check is one of the largest hardware and software solutions providers in the electronic test industry. CCI has been in business since 1979, based out of Maple Grove, Minnesota, with strategic support centers worldwide.  The ability to design, build and deploy test fixtures and complete test solutions on multiple platforms thru out the world make CCI the preferred supplier to many OEM's and CM's in the electronics industry.  For more information visit www.circuitcheck.com.

About Tonka Bay Equity Partners

Based in Minnetonka, MN, Tonka Bay Equity Partners is a private equity firm that acquires and invests in lower middle market businesses in the highly-engineered manufacturing, business services and value-added distribution sectors. For more information, call (952) 345-2035 or visit www.tonkabayequity.com.