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Granite Creek Portfolio Company Salem One Announces Acquisition of iTek Graphics

Written by Customer Service on . Posted in Mergers And Acquisitions.

CHICAGO and WINSTON SALEM, N.C., Feb. 01, 2024 (GLOBE NEWSWIRE) — Granite Creek Capital Partners’ portfolio company, Salem One, Inc. (“Salem One”), a leading provider of print-based corporate communication solutions, announced the acquisition of iTek Graphics, a prominent printing and graphics company based in Concord, North Carolina. The acquisition of iTek Graphics by Salem One was funded by investments from Granite Creek’s FlexCap III fund along with a co-investment from Patriot Capital.

Salem One’s acquisition of iTek Graphics further solidifies the company as a leader in complete corporate communications solutions, and adds to its reach and capabilities.

“The acquisition brings together two industry leaders, jointly offering a comprehensive suite of packaging, data-driven direct marketing, signage, and logistics services,” said Brian Boorstein, Co-Founder and Partner at Granite Creek Capital Partners. “The blend of resources and expertise from the two companies offers unmatched value for clients looking to streamline their print and marketing, driving greater efficiency in their campaigns.”

As a new division of Salem One, iTek Graphics will continue operating as a stand-alone business unit led by a talented and long-tenured team in Concord, NC. iTek Graphics has built a reputation for its state-of-the-art printing capabilities, innovative design solutions, and unwavering commitment to client success. The acquisition is expected to amplify the company’s current strengths while providing clients with an even more comprehensive range of services.

“We are proud to welcome the team at iTek Graphics into the Salem One family,” said Phil Kelley, Jr., CEO of Salem One. “We have enjoyed a strong relationship with their team over the years and are excited for the opportunities ahead with the joining of our organizations.”

Granite Creek’s Brian Boorstein added, “Phil Kelley is a dynamic leader and he and the Salem One team found a perfect match in iTek Graphics. Salem One’s acquisition of iTek Graphics strategically combines two outstanding management teams while simultaneously strengthening both companies’ ability to deliver exceptional solutions to clients.”

About iTek Graphics
Founded in 2010, iTek Graphics is a prominent printing and graphics company based in Concord, North Carolina. iTek Graphics offers complete mailing services, and a complete turnkey solution for fulfillment services, Digital, Offset Wide Format, specialty finishings and online ordering.

About Salem One
Salem One, the largest independently owned packaging, print, direct marketing/mail company in North Carolina and South Carolina, is also and one of the largest in the Southeast, delivering award-winning products and services to leading local, regional, and national corporations and brands. The company is based in Winston Salem, NC and operates a full-service direct marketing division in Kernersville, NC. Salem One has been recognized by Printing Impressions magazine as a Top 300 printer, as one of the Top Workplaces in the Triad by the News and Record and as one of the Fastest Growing companies in America by Inc. Magazine. More details about Salem One can be obtained by visiting www.salem-one.com. For inquiries, please contact: Phil Kelley Jr., CEO or Tracy Brooks, Senior Vice President. phil@salem-one.com or tbrooks@salem-one.com

About Granite Creek Capital Partners, L.L.C.
Founded in 2005, Granite Creek Capital Partners, L.L.C. is a Chicago-based private investment firm focused on providing capital and operational resources to lower middle market companies engaged in manufacturing, business services, healthcare, and agribusiness. With an experienced team of investment professionals bringing expertise in private equity, banking, operations, and business development, Granite Creek has a successful track record of investing in and supporting its portfolio companies. In 2023, Granite Creek was named to Inc.’s Founder-Friendly Investors list for the fourth year in a row, honoring the private equity and venture capital firms with the best track record of success backing entrepreneurs. For more information on Granite Creek, visit www.granitecreek.com or call 312-895-4500.

For more media information, contact:
Lisa Hendrickson, LCH Communications for Granite Creek
516-643-1642
lisa@lchcommunications.com

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