David Wood is the Founder and Managing Member of Foundation Investment Partners. https://foundationpartners.net/our-people/david-wood/
David Wood is the Founder and Managing Member of Foundation Investment Partners. https://foundationpartners.net/our-people/david-wood/
Spartan Tool Supply
Website: https://www.spartantoolcolumbus.com/
Status: Active
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 providing exceptional value to our customers.” FIP plans to leverage its deep experience in the industrial distribution space to provide resources and 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 additional resources and expertise to build out 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.”
Spartan Tool Supply
Website: https://www.spartantoolcolumbus.com/
Status: Active
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 providing exceptional value to our customers.” FIP plans to leverage its deep experience in the industrial distribution space to provide resources and 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 additional resources and expertise to build out 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.”
Website: https://www.wrwp.com/
Status: Active
WRWP, LLC (WRWP) is a niche leader in the design, manufacture and distribution of complex wire harness assemblies with a concentration in the lawn and garden and truck equipment markets.
“David and his colleagues were a big help in providing the founders of the company with an exit strategy and basis for retirement. They also helped myself and the new management team transition to new roles and provided guidance on reporting to private equity investors versus a family owned business.
David was an integral part of our strategic planning and helped guide us through our first acquisition. He also facilitated best practice discussions between FIP’s portfolio companies, which was especially helpful during the pandemic.
FIP has been a great partner and support system for myself and our whole company.”
Kevin Miller
President & CEO
Website: https://www.acmecomponents.com/
Status: Active
ACME Cosmetic Components, LLC (ACME) is the global leader in the manufacture of metal pans used in the packaging of eye shadow, blush, rouge, and other color cosmetics.
“The depth and breadth of the FIP network has provided ACME with resources that have not only led to tangible process and productivity improvements, but also revenue growth opportunities we would not otherwise have seen.
Working with the FIP team is the definition of “constructively collaborative”, one of the foundational tenets of our organization.”
Mike Roughton
Retired CEO
Website: https://advancedprobing.com/
Status: Active
Advanced Probing Systems, Inc. (APS) is the global leader in the manufacture of probe needles used in wafer sort testing, LCD probe testing and LED probe testing, various nanotechnology probe applications, medical electrodes, spotting pin blanks for genome testing, ion emitters and a variety of other industrial applications.
“Selling the business you have worked so hard and so long to make successful may be the biggest decision any entrepreneur has to make. When I decided it was the right time to sell, I received a number of offers. The decision to proceed with FIP was the right decision. Not only did they understand my concerns and priorities, but the process was handled in a professional and timely manner. Since I continue to be a shareholder in my ‘old’ company, my experience with them is not only in the sales process but also in the management of the company since the sale. I can honestly say that they have done more than I could have during the intervening years. I have been glad that they were at the helm of the business during the difficult years after the sale. I could not be more pleased with my decision to proceed with FIP.”
Michelle Gesse
Former Owner & CEO current investor
Website: https://wajonestruckequipment.com/
Status: Active
WAJ is a work truck body upfitting and equipment distribution business that specializes in vehicle assembly and design-build services, serving government entities and the commercial market. It had a successful business, but growth was inhibited by owners who lacked the experience and vision to drive it forward.
“Working with FIP throughout the investment process was close to being painless. The due diligence portion of any process is never fun but with FIP it was much better than what I have had a friend describe. Once we entered the FIP family, it has been a great marriage. Like having a Momma bear rearing her cubs.”
Denny McIntyre
VP of Sales
Status: Exited
Discount Drainage Supplies is the largest stocking distributor of drainage pipe and related products in Ohio including culvert pipe, PVC piping and septic supplies. FIP acquired Discount Drainage in 2018 from Jim and Pete Gory and partnered with them to build out their management team, allowing them to retire. With a new team in place, FIP supported their efforts in accelerating the company’s sales growth and increased productivity in all areas of operations.
With DDS, FIP successfully recruited a new CEO and CFO, professionalized operations, and accelerated growth. These actions generated an attractive return for investors and provided employees with a quality new partner. DDS was sold to Winsupply Inc., one of the largest distributors in the US.
The acquisition of Discount Drainage aligned perfectly with the FIP operating model. According to David Wood managing partner at FIP: “Our operating model is to actively collaborate with management teams in pursuit of sustainable growth, by providing tactical support, strategic guidance, and financial resources to be successful.”
Status: Exited
Miljoco is a leading manufacturer and distributor of analog and mechanical pressure and temperature gauges, specializing in the HVAC, food service and commercial fire extinguisher markets. It enjoys deep, long-term customer relationships, but growth was held back by its owner’s limited risk appetite.
“What is really unique about Foundation Investment Partners is their Mid-Western approach which aligned right away with our values and vision. David and his team bring years of experience, significant and thoughtful tactics, and made a difficult third-party transition possible. FIP has upheld our mission since the beginning and supported our endeavors in every phase of growth.”
Howard Trerice
Retired CEO