Wednesday, May 22, 2024

Salem One buys Concord’s iTek Graphics

Salem One, a Winston-Salem based provider of print-based communications, says it acquired iTek Graphics of Concord. Terms weren’t disclosed.

The transaction follows investments in Salem last summer by Chicago-based Granite Creek Capital Partners and Patriot Capital, which is based in Baltimore and has a Charlotte office. Salem CEO Phil Kelley Jr. and former Chairman Scott Mahoney continued their investments in Salem one at the time, according to a statement.

Combining with iTek shows Salem One’s ambition to expand in the Southeast, adding to its regional and national client base, the company said in a release. iTek will operate its Concord plant and continue with its current brand name.

“We have known and admired the talented team at iTek for years and this acquisition aligns perfectly with our growth vision and strengthens our ability to deliver exceptional solutions to our clients,” Kelley said. The Charlotte company was formed in 2010. Its president is John Rawlins.

In addition to its printing business, Salem One has a direct marketing division in Kernersville, in Forsyth County. The company has been cited by Inc. magazine for its revenue growth.

The company has won more “Best of Category” awards for three straight years at the Printing Industry of the Carolinas award competition.

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