Investment Summary

Patriot Capital and Granite Creek Partners Invest In Salem One

On October 17, 2023, private equity firms Patriot Capital and Granite Creek Partners invested in business services company Salem One

Investment Highlights
  • This is Patriot Capital’s 11th and Granite Creek Partners’ 5th transaction in the Business Services sector.
  • This is Patriot Capital’s 107th and Granite Creek Partners’ 31st transaction in the United States.
  • This is Patriot Capital’s 7th and Granite Creek Partners’ 1st transaction in North Carolina.

Investment Summary

Date 2023-10-17
Target Salem One
Sector Business Services
Investor(s) Patriot Capital
Granite Creek Partners
Deal Type Growth Capital

Target

Salem One

Winston-Salem, North Carolina, United States
Salem One is a provider of corporate communication solutions, including direct marketing, packaging, and logistics services. Salem One is based in Winston-Salem, North Carolina.

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Investor(S) 2

Investor

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $5 to $25 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.


DEAL STATS #
Overall 107 of 109
Sector (Business Services) 11 of 11
Type (Growth Capital) 27 of 27
State (North Carolina) 7 of 7
Country (United States) 107 of 109
Year (2023) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-26 Alloy Wheel Repair Specialists

Norcross, Georgia, United States

Alloy Wheel Repair Specialists provides on-site repair of cosmetic damage to alloy wheel cores, off-site remanufacturing of structurally damaged wheels, and OEM replacement parts through a strong retail network. Alloy Wheel Repair Specialists was founded in 2001 and is based in Norcross, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-15 Central States Bus Sales

Fenton, Missouri, United States

Central States Bus Sales is an authorized dealer of Blue Bird Corporation (“Blue Bird”) school buses in the United States, exclusively serving Missouri, Illinois, Kentucky, Tennessee, Arkansas, and Alabama. CSBS has a longstanding relationship with Blue Bird, a leading school bus manufacturer with gas, diesel, low- and zero-emission school buses fueled by propane and natural gas, and electric-powered (EV) buses in operation today. Central States Bus Sales is based in Fenton, Missouri.

Buy -
Investor

Granite Creek Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Granite Creek Partners is a Midwest US-based private equity firm focused on acquiring and investing in mid-sized companies operating in the manufacturing, distribution, business services, healthcare, and food sectors. The Firm looks to commit $7 to $25 million per transaction and can invest across the capital structure, including control/minority equity, mezzanine debt, senior secured debt, and debtor-in-possession loans. Granite Creek Partners was formed in 2005 and is based in Chicago.


DEAL STATS #
Overall 33 of 35
Sector (Business Services) 5 of 6
Type (Growth Capital) 11 of 12
State (North Carolina) 1 of 1
Country (United States) 31 of 33
Year (2023) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-31 Pinstripes

Northbrook, Illinois, United States

Pinstripes is an operator of dining and entertainment venues combining bowling, bocce, and Italian-American cuisine. Pinstripes is based in Northbrook, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-14 NYP

Elizabeth, New Jersey, United States

NYP is a value-added packaging and manufacturing distributor focused on the wholesale nursery, agricultural, and industrial markets. NYP was founded in 1946 and is based in Elizabeth, New Jersey.

Buy -