Indiana industrial supply distributor acquired
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A distributor of industrial supplies and safety equipment in DeKalb County is under new ownership. Garrett-based AAA Industrial Supply has been acquired by Foundation Investment Partners, a private equity firm headquartered in Ohio.
Financial terms of the sale are not being disclosed.
AAA Industrial Supply provides a variety of equipment, including keyless locks, magnifiers, floor films, and safety equipment for multiple industries.
FIP said in a news release that AAA Industrial Supply will be folded into its subsidiary, Spartan Tool Supply, based in Columbus, Ohio.
“We are excited about the opportunities that lie ahead as we integrate AAA Supply with our legacy business at Spartan Tool,” Spartan CEO Derek Elbaor said in the release. “With AAA Industrial Supply’s online presence, we add nationwide ecommerce capabilities which will greatly improve our abilities to reach new customers from one strategic location in Columbus, Ohio.”
FIP Managing Partner David Wood told Inside INdiana Business that AAA Industrial Supply was wholly run by family members who wanted to retire. As a result, the firm is moving its fulfillment operations to its Columbus location.
Wood said the firm hopes to establish several branch locations for Spartan Tool in the future, though no specific plans are in place.
Another FIP portfolio company, truck body and equipment company W.A. Jones, is based in Columbia City.