Salt Creek Capital Acquires Pioneer Industrial Sales
Dec. 05, 2023
Woodside, California (December 5, 2023) - Salt Creek Capital is pleased to announce the acquisition of Pioneer Industrial Sales (“Pioneer” or “the Company”), a leading provider of industrial supply products. Pioneer provides a wide range of power transmission, MRO, material handling, and packaging materials to industrial customers across the United States.
Mr. Chris Price and Mr. Jerry Nowlin, the founders of Pioneer, jointly stated “We have cherished our time building Pioneer into the company it is today. We look forward to working with Hank Pennington and the Salt Creek Capital team as they lead the Company through its next stage of growth.”
Mr. Hank Pennington, incoming CEO, added “Partnering with Salt Creek Capital to complete this transaction was an amazing experience. Pioneer has an exciting future ahead of it and I look forward to working closely with our employees, customers and suppliers to build upon the great legacy Chris and Jerry created.”
Mr. J.W. Penland, Managing Director at Salt Creek Capital, added “Chris and Jerry are remarkable entrepreneurs who created an attractive enterprise by identifying an under-served niche. Thanks to its customer base, its diversified product portfolio and geographic locations, Pioneer has many growth opportunities in its foreseeable future.”
About Pioneer
Founded in 1997, Pioneer (www.pioneerindustrialsales.com) is a leading provider of a wide range of industrial supplies, including power transmission, MRO, material handling, and packaging materials with a reputation for high quality products and on-call delivery of needed stocks, both day and night. The Company has a broad range of value-add capabilities and a reputation for service which enables it to maintain long-standing customer relationships.
About Salt Creek Capital
Salt Creek Capital is a San Francisco Bay Area-based private equity firm that partners with experienced operating executives to acquire profitable companies with up to $150 million in revenue. Salt Creek Capital takes a long-term approach to investing in lower middle market businesses and seeks to create value by working closely with management teams to accelerate growth and improve operating efficiencies. For more information, please contact Tyler Romrell at tyler@saltcreekcap.com or visit www.saltcreekcap.com.