Private equity firm Foundation Investment Partners acquired Columbus, Ohio-based industrial power tools and equipment distributor Spartan Tool Supply. Terms of the transaction were not disclosed.

For over 45 years, Spartan Tool Supply has served as a supplier of commercial tools and equipment to businesses across various industries throughout Central Ohio.

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.

FIP plans to leverage its experience in the industrial distribution space to provide Spartan with access to new resources and expertise to expand the team, enter new markets and build upon the company’s success, FIP officials said in a March 11 news release.

“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,” said FIP Managing Member David Wood.

Foundation Investment Partners is a private equity firm focused on investing in niche manufacturers, high value-added distributors, outsourced business service providers, and niche software developers with EBITDA levels of $1 million to $10 million.