Thomas Berardino

Stamford, Conn.-based Saugatuck Capital Company has launched its fifth private equity fund. Fund V will invest in lower- to middle-market service and manufacturing industries with revenues between $20 million and $80 million, according to Thomas Berardino, managing director.

Berardino will manage the fund with the firm's four other partners: Frank Hawley, Stuart Hawley,Christopher Wright, and John Geisler. Berardino and Hawley co-founded Saugatuck in 1998. Berardino previously co-founded New York-based Meridian Capital Management, a merchant bank specializing in middle-market private equity transactions. Hawley was previously at Valley Forge, Pa.-based Foster Management Company, a venture capital and private equity firm.

Additionally, Fund IV recently made an investment in Kirkwood, N.Y.-based American Pipe & Plastics. This company manufactures polyvinyl chloride (PVC) conduit and fabricated fittings used primarily for the telecommunications and power industries.