Cyprium Announces 100th Non-Control Investment to Support Craig Wire Products
Cyprium Partners, a middle-market private equity firm specializing in debt and minority equity solutions, announces the completion of its 100th Non-Control Investment. Founded in 1998, Cyprium provides flexible capital and strategic guidance to business owners, management teams and independent sponsors to support growth, shareholder liquidity, acquisitions, MBOs, and employee stock ownership plans (ESOPs).
Craig Wire manufactures shaped copper and aluminum magnet wire used in mission-critical electric motors, generators and transformers. Operating from two ISO-certified facilities in Douglasville, Georgia, Craig Wire offers fully integrated drawing, conforming, rolling, annealing, covering and enameling capabilities and is the only scaled, full-service domestic provider of short-run, quick-turn and customized magnet wire in the industry. Cyprium provided subordinated debt, preferred equity and common equity to support the acquisition of Craig Wire by Salt Creek Capital, a California-based independent sponsor.
“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.”
– Hank Pennington l Incoming CEO of Craig Wire Products –
“Craig Wire has built an outstanding reputation as a trusted supplier of highly customized copper and aluminum magnet wire to a loyal and diverse customer base. We are excited to partner with Hank Pennington as the incoming CEO, existing management, and Salt Creek Capital to capitalize on significant growth opportunities ahead.”
– Taylor Richard l Principal at Cyprium –
About Cyprium Partners
Cyprium Partners is a private equity and mezzanine firm focused on non-controlling investments in profitable middle-market companies, allowing company owners and their management teams to retain a controlling interest in their businesses. Cyprium provides common equity, preferred equity, subordinated debt, or any combination thereof, offering flexibility and increasing the certainty of close.
With offices in Cleveland and Chicago, the firm invests $5 million to $60 million per transaction in U.S. and Canadian companies with $4 million or more of EBITDA. Since its founding in 1998, the team has invested over $2 billion in 100 founder, family and entrepreneur-owned companies.