Foundation Investment Partners

What Foundation Investment Partners does

Foundation Investment Partners (FIP) is a Cleveland, Ohio-based private equity firm founded in 2009 by David Wood that specializes in acquiring lower middle-market companies with $1M–$10M EBITDA in niche manufacturing, high value-added distribution, outsourced business services, and niche software. The firm positions itself as an operator-led, value buyer, typically acquiring companies at conservative 4–5x EBITDA multiples and embedding itself into portfolio operations through its proprietary use of the Entrepreneurial Operating System (EOS). Rather than running a traditional LP/GP fund, FIP invests its own capital on a deal-by-deal basis with conservative capital structures that include mezzanine financing. Its current active portfolio spans specialty paper packaging (Amspak, Paper Converters under the Sustainable Packaging, LLC platform), industrial distribution (Spartan Tool Supply with integrated AAA Industrial Supply and Dayton Tool Crib), truck equipment upfitting (W.A. Jones, Tebco of Kentucky), precision manufacturing (Advanced Probing Systems), and locksmith supply distribution (American Key Supply). The firm has realized two disclosed exits — Discount Drainage Supply (sold to Winsupply in March 2021) and Miljoco Corporation (sold to DwyerOmega in January 2024) — and is actively rolling up add-on acquisitions into its platform companies. FIP is staffed by a small senior team of nine investment and operating professionals with backgrounds at Kirtland Capital Partners, KeyBank, PricewaterhouseCoopers, Brown Gibbons Lang, KeyBanc Capital Markets, and the Federal Reserve Bank of Cleveland.

Name

Foundation Investment Partners

Legal name

Foundation Investment Partners, LLC

Website

https://foundationpartners.net

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Short description

Foundation Investment Partners is a Cleveland, Ohio-based private equity firm founded in 2009 that acquires niche manufacturers, distributors, and business service providers with $1M–$10M EBITDA, embedding operating expertise and the Entrepreneurial Operating System to drive value before exit.

Ownership category

akta.pro rank

Product category

Private Equity Investment Services

NAICS

Portfolio Management and Investment Advice (523940), Miscellaneous Intermediation (523910)

SIC

Investment Advice (6282), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Fiduciary Investment Management (Trust Portfolios) (FSAEAKAI)

akta.pro secondary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Private equity investments
• Management buyouts
• Niche manufacturing acquisitions
• Industrial distribution investing
• Portfolio company operations

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Portfolio Company Returns: FIP generates returns through ownership appreciation of portfolio companies, operational improvements, and eventual exits. The firm actively collaborates with management teams to drive sustainable growth, implementing efficiency enhancements, professionalizing operations, and pursuing add-on acquisitions to create value before exiting investments.

Go-to-market motion2 records

Marketing channels3 records

Core offering

Foundation Investment Partners (FIP) is a private equity firm that acquires and operates small businesses in specific, niche sectors — including niche manufacturers, high-value-added distributors, outsourced business service providers, and niche software developers with EBITDA between $1 million and $10 million. The firm typically buys at 4-5x EBITDA multiples, embeds its operating partners into the businesses, and drives value through operational professionalization, leadership transitions, and add-on acquisitions before exiting.

Product overview

Foundation Investment Partners (FIP) is a private equity firm that does not offer a unified software product or platform. Instead, it operates a portfolio of portfolio companies across multiple sectors including sustainable packaging (Amspak, Paper Converters under Sustainable Packaging LLC platform), industrial distribution (Spartan Tool Supply with Dayton Tool Crib and AAA Industrial Supply), truck equipment (W.A. Jones, Tebco of Kentucky), precision manufacturing (Advanced Probing Systems), and previously held positions in instrumentation (Miljoco with Weiss), drainage distribution (Discount Drainage Supplies), wire products (Western Reserve Wire Products), and cosmetic packaging (Acme Cosmetic Components). The company also provides private equity investment services targeting niche manufacturers, high value-added distributors, outsourced business service providers, and niche software developers with EBITDA levels of $1 million to $10 million.

Differentiator

Problem solved

Functional benefit

Brands

• Sustainable Packaging, LLC: Platform company for sustainable packaging acquisitions including Paper Converters and Amspak.

Products and services

• Private Equity Investment Services Investment advisory and portfolio management services focused on acquiring niche manufacturers, high-value-added distributors, outsourced business service providers, and niche software developers with EBITDA levels between $1 million and $10 million. The firm takes controlling ownership positions, embeds its operating team into the business, and implements strategic and operational improvements before exiting.

Quantifiable outcome

• Discount Drainage Supply: Successfully recruited new CEO and CFO, professionalized operations, accelerated growth, generated attractive return for investors
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Brown Gibbons Lang & CompanyminorOthers · 4 January 2024Brown Gibbons Lang & Company served as exclusive financial advisor to Miljoco Corporation in its sale to DwyerOmega. This was a transactional service relationship rather than a strategic partnership.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Hamilton Robinson Capital Partners: Stamford-based lower middle market PE firm focused on industrial, business services, and consumer companies. Comparable deal size, lower middle market focus, and operational approach to FIP.
• Kirtland Capital Partners: Cleveland-based lower middle market PE firm investing in industrial and business services companies. Direct competitor and former employer of FIP founder David Wood, who spent 10 years as Partner at Kirtland before founding FIP in 2009.
• Gen Cap America: Cleveland-based private equity firm focused on lower middle market industrial businesses. Comparable in size, geographic focus, and sector strategy to FIP, with similar deal-by-deal investment approach.
• Linsalata Capital Partners: Cleveland-based private equity firm investing in middle market manufacturing, industrial distribution, and business services companies. Regional peer with comparable strategy and operational approach to FIP.
• Huron Capital Partners: Detroit-based private equity firm focused on lower middle market industrial and business services companies. Similar deal size, sector focus, and operational value creation approach to FIP.
• Mainsail Partners: Lower middle market growth equity firm focused on industrial and tech-enabled services companies. Comparable deal size and lower middle market investment focus to FIP.
• Spell Capital Partners: Lower middle market PE firm focused on industrial and niche manufacturing companies. Comparable deal size, lower middle market focus, and operational value creation approach to FIP.
• Capital Alignment Partners: Nashville-based lower middle market PE firm focused on industrial and business services companies. Comparable deal size and lower middle market investment approach to FIP.
• Inverness Graham Investments: Lower middle market PE firm focused on industrial and tech-enabled businesses. Comparable deal size, lower middle market focus, and operational approach to FIP.
• Tonka Bay Equity Partners: Minneapolis-based lower middle market PE firm focused on niche industrial, distribution, and business services companies. Comparable deal size and lower middle market investment approach to FIP.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/foundation-investment-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A8 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Foundation Investment Partners