Taking Micro-Cap Companies Private

The guys at Trinity Ventures were kind enough to invite me to a dinner they hosted at the Software 2006 conference last night. There I met Stephen Wiehe who is the CEO of SciQuest. Stephen with Trinity took SciQuest private. He said this saved the company around $2M a year just in regulatory related costs and overhead. You hear a lot about larger companies going private but smaller ones? It would be very interesting to look at companies doing $5M - $25M a year in revenue that are currently public and see if there are many, or any, that would be interesting to take private.