CHAGRIN FALLS, Ohio — Foundation Investment Partners on Monday announced 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 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."
