Washington state MRO and metalworking distributor Stellar Industrial Supply announced Thursday that private equity firm SNH Capital Partners will acquire a stake in the company.
Stellar officials said that the agreement with the Austin, Texas, firm would provide “long-term capital and operational resources” while keeping its leadership, strategic direction and culture intact. Stellar President and CEO John Wiborg added that the distributor selected the firm as a partner because of its “long-term investment philosophy, collaborative approach, and shared vision for Stellar.”
"This partnership strengthens our ability to invest in our people, customers and future growth," Wiborg said in the announcement.
Aditya Dabas, managing director of the investment team at SNH Capital, said that Stellar offers “an exceptional reputation and leadership team,” and that “we look forward to supporting its long-term success."
Terms of the deal were not disclosed.
Stellar, based in Tacoma, Washington, operates 16 locations from coast to coast.
