Indiana industrial and safety product distributor AAA Industrial Supply has been acquired by private equity firm Foundation Investment Partners, officials announced last week.
The Garrett, Indiana, company — a provider of keyless locks, magnifiers, knives, blades, floor films, adhesives, lubricants and safety equipment — will be incorporated into fellow Foundation company Spartan Tool Supply.
Company officials said the move would enable Spartan to enter new markets with expanded product lines and other resources. Spartan Tool CEO Derek Elbaor added in the announcement that the deal would bring “nationwide e-commerce capabilities” to the business and allow it to reach new customers from a single location in Columbus, Ohio.
Additional details, including financial terms, were not disclosed.
"We are thrilled to welcome AAA Industrial Supply into the FIP family,” FIP partner Amy Forsythe said. “The company's strong customer relationships and consistent performance in a resilient sector make it an ideal avenue for growth."
"We are excited about the opportunities that lie ahead as we integrate AAA Supply with our legacy business at Spartan Tool," said Elbaor.
