Subject: TNM
Foundation Investment Partners Completes Acquisition of Spartan Tool Supply in Columbus, Ohio
CHAGRIN FALLS, Ohio, March 11, 2024 /PRNewswire/ -- Foundation Investment Partners is pleased to announce the successful acquisition of Spartan Tool Supply, a premier distributor of industrial power tools and equipment based in Columbus, Ohio. Terms of the transaction were not disclosed.
For over 45 years, Spartan Tool Supply has served as a trusted supplier of high-quality commercial tools and equipment to businesses across various industries. With a strong focus on customer service and reliability, Spartan Tool Supply has built enduring relationships with clients throughout Central Ohio.
"We are thrilled to welcome Spartan Tool Supply into the Foundation Investment Partners family," said David Wood, Managing Member of Foundation Investment Partners. "Spartan's reputation for providing leading industrial brands and stocking unique, hard-to-find consumables and accessories align perfectly with our dedication to delivering exceptional value to our customers." FIP plans to leverage its deep experience in the industrial distribution space to create value immediately.
Under the ownership of Foundation Investment Partners, Spartan Tool Supply will continue to operate autonomously, augmenting its existing workforce with industry veteran Derek Elbaor as CEO. The acquisition will provide Spartan with access to new resources and expertise to expand the team, enter new markets and build upon the Company's success.
"We are excited about the opportunities that lie ahead as part of Foundation Investment Partners," said Derek Elbaor. "With their support, we are confident that we can further elevate our capabilities and better serve our customers while staying true to the principles that have guided us for decades."
About Foundation Investment Partners
Foundation Investment Partners is a private equity firm focused on building companies that account for the well-being of our people, recognizing that the cared for and empowered are more likely to outperform. FIP focuses on investing in niche manufacturers, high value-added distributors, outsourced business service providers, and niche software developers with EBITDA levels of $1 million to $10 million. FIP's operating model focuses on embedding our team with the owners or operators of smaller businesses to provide the support, guidance, and resources necessary to grow the business. For more information, please visit www.foundationpartners.net
Contact:
David Wood
Founder & Managing Member
Foundation Investment Partners
(440) 903-1791
SOURCE Foundation Investment Partners
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