Exeter Street Capital Leads Recapitalization of Price Circuits

Founded in 1994, Price Circuits has cultivated a reputation as an "engineer’s playground," specializing in complex printed circuit board fabrication for high-stakes industries. With existing AS9100 and ITAR certifications, the company serves a diverse client base, including Tier 1 defense contractors. CEO Sibi Varghese will remain a shareholder, continuing the family legacy while utilizing new growth capital to expand the firm’s technical reach.

To drive this expansion, Exeter has appointed two industry veterans to provide strategic oversight. Jim Russell, formerly of R&D Altanova, will serve as Chairman, while Dana Pittman, ex-CEO of PPI TimeZero, joins as an Executive Partner. According to Russell, the move capitalizes on a generational shift in the electronics market, spurred by domestic defense spending and the increasing demand for high-quality prototyping in the AI and IoT sectors. Franklin Staley, Managing Director at Exeter, identified the company’s defensible niche and blue-chip customer roster as the primary drivers behind the investment. The transaction, which includes debt and equity backing from institutional partners, positions the firm to transition from a specialized fabricator into a broader, scaled market leader.