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Flexstar Names Stephan Memmen as President and CEO [Manufacturing Close - Up]
[January 09, 2013]

Flexstar Names Stephan Memmen as President and CEO [Manufacturing Close - Up]

(Manufacturing Close - Up Via Acquire Media NewsEdge) Flexstar Technology, Inc., a portfolio company of Audax Group and Rigel Associates, announced the appointment of Stephen Memmen as President and Chief Executive Officer, effective January 1, 2013.

Flexstar is a provider of test and measurement solutions for the data storage industry. With over 30 years of providing test solutions to 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 repository of testing scripts ensure that each customer can run a customized series of tests to guarantee optimum performance and marketability of their drives.

Memmen brings over 20 years of technology and senior management experience. He was recently a Corporate Officer and Vice President of Amphenol Corp., 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, 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." Audax Group is an investor in lower-middle market companies.

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.

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