Wired Up

Craig Wire Products acquired by Salt Creek Capital

Salt Creek Capital announced August 18 the acquisition of Craig Wire Products, LLC, a leading specialty manufacturer of custom-specification shaped magnet wire serving electric motor, generator, and transformer OEMs and aftermarket service providers.

Headquartered in Douglasville, Georgia, Craig Wire has established a differentiated position in the North American magnet wire market through its highly flexible manufacturing capabilities, short production runs, custom specifications, and industry-leading delivery times. The Company serves a diverse and long-tenured customer base across critical end markets, including large industrial motor repair and rewind, power generation, custom transformers, and transit & traction motors.

Jack Craig, Founder of the Company, stated, “Building Craig Wire over the past two decades has been one of the great privileges of my life. From the beginning, we believed there was an opportunity to do things differently in this industry – move faster, solve difficult problems, and be a partner our customers could count on. I am incredibly proud of the business our team has built and the reputation they have earned. In Salt Creek Capital and Hank Pennington, I believe we have found the right partners to preserve what makes Craig Wire special while providing the resources and leadership to take the Company to the next level.”

Hank Pennington, the incoming CEO of the Company, stated, “I have known and respected Craig Wire for many years, and I have seen firsthand the unique position the Company has earned in the magnet wire market. Jack Craig and the team have built an organization with exceptional technical capabilities, a strong culture, and a reputation for solving complex customer needs with speed and flexibility. I am excited to build on that legacy and work alongside the Craig Wire team as we expand our capabilities, strengthen our OEM partnerships, and pursue the significant opportunities ahead in both copper and aluminum magnet wire.”

Tyler Romrell, Managing Director at Salt Creek Capital, added, “We are thrilled to partner with Craig Wire and to support Hank Pennington as he leads the Company forward. Jack Craig built an exceptional business with a differentiated market position, strong customer relationships, and a reputation for service that is unmatched. We are honored to help carry forward Jack’s legacy while building on that foundation through expanded product capabilities, deeper customer relationships, and continued investment behind attractive long-term growth trends across the magnet wire market.”