Chagrin Falls-based Foundation Investment Partners has acquired Spartan Tool Supply, a distributor of industrial power tools and equipment based in Columbus. Terms of the deal were not disclosed.
Spartan Tool Supply provides commercial tools and equipment to businesses across various industries.
"We are thrilled to welcome Spartan Tool Supply into the Foundation Investment Partners family," said Foundation Investment Partners Managing Member David Wood. "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."
Foundation plans to leverage its experience in the industrial distribution space to create value immediately.
Spartan Tool Supply will continue to operate autonomously with industry veteran Derek Elbaor serving as the company's new CEO. The acquisition will provide Spartan with access to new resources and expertise to expand the team and enter new markets.
"We are excited about the opportunities that lie ahead as part of Foundation Investment Partners," Elabor said. "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."
