Patriot Capital Invests in Salem One

Patriot Capital, a multi-strategy middle market investment firm, is pleased to announce a new debt and equity co-investment in partnership with Granite Creek Capital Partners and existing Salem One management to support the acquisition of iTek Graphics, a prominent printing and graphics company based in Charlotte, NC.

Adding to Salem One’s reach and capabilities, iTek Graphics further solidifies the company as a regional and national leader in complete corporate communications solutions.

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 that lay ahead with the joining of our organizations.”

Patriot initially invested in Salem One in August 2023. Headquartered in Winston-Salem, NC, Salem One is a leading provider of corporate communication solutions, including direct marketing, packaging, and logistics services. The acquisition includes an investment from Granite Creek Capital Partners and roll-over investments led by Phil Kelley, Jr., CEO and President of Salem One and Scott Mahoney, a long-time shareholder and previous Chairman of Salem One.