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Stephan Memmen Joins Flexstar as President and Chief Executive Officer



  Stephan Memmen Joins Flexstar as President and Chief Executive Officer

Business Wire

BOSTON -- January 4, 2013

Flexstar Technology, Inc. (“Flexstar”), a portfolio company of Audax Group and
Rigel Associates, today announced the appointment of Stephen Memmen as
President and Chief Executive Officer, effective January 1, 2013.

Headquartered in San Jose, California, Flexstar is a leading provider of test
and measurement solutions for the data storage industry. With over 30 years of
providing test solutions to the world’s leading storage companies, Flexstar’s
products are used to conduct standardized, repeatable testing for, hard disk
drives (HDDs), solid state drives (SSDs), and peripheral component
interconnect express drives (PCIe). Flexstar offers turnkey environmental
chambers, burn-in racks, bench-top, and self-test solutions to conduct
development, reliability, qualification, and factory production tests.
Flexstar’s proprietary software suite and its large repository of testing
scripts ensure that each customer can run a customized series of tests to
guarantee optimum performance and marketability of their drives.

Mr. Memmen brings over 20 years of technology and senior management
experience. He was recently a Corporate Officer and Vice President of Amphenol
Corporation (NYSE: APH) (“Amphenol”), where he led a division with over $350
million in revenues and operations in the United States, China, Korea,
Malaysia, Singapore, Taiwan and Finland. Prior to Amphenol, Mr. Memmen ran T&M
Antennas, and led the sale of T&M Antennas to Amphenol in 2000.

Young Lee, Managing Director of Audax Group, said “Stephan’s technology
experience and management track record make him an excellent addition to
Flexstar. We are excited to have Stephan join Flexstar as we continue to grow
the business.”

Stephan Memmen, said “I am excited to join Flexstar Technology. I look forward
to working with the team to build on Flexstar’s success as a provider of
comprehensive testing solutions for the data storage market.”

ABOUT AUDAX GROUP

Audax Group, founded in 1999, is a leading investor in lower-middle market
companies. With offices in Boston and New York, Audax has over $5 billion in
assets under management in its Private Equity, Mezzanine, and Senior Debt
funds. For more information visit the Audax Group website www.audaxgroup.com.

ABOUT RIGEL ASSOCIATES

Rigel Associates is a private equity group that invests in companies with
revenues exceeding $20 million, consistent histories of cash flow,
demonstrated market differentiation, and well defined opportunities for
growth. For more information visit the Rigel Associates website
http://www.rigelassociates.com.

Contact:

Audax Group
Young Lee, 617-859-1532
Managing Director
or
Rigel Associates
Michael Mitgang, 650-292-7681
Managing Partner
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