Foundation Investment Partners has acquired W.A. Jones, a distributor and upfitter of truck equipment.
W.A. Jones is a distributor of heavy truck equipment and accessories from over 40 major brands, including Boss, Western, Knapheide, Adrian Steel, and Monroe. The company also provides equipment installation and integration services. W.A. Jones, with approximately 45 employees, was founded in 1880 and is headquartered near Ft. Wayne in Columbia City, IN (www.wajonestruckequipment.com).
“We saw it as a great opportunity to partner with FIP. Their industry knowledge allows us to execute a strategic growth plan and continue to enhance our business while maintaining the high level of customer service we are known for,” said CEO Greg McNeal.
“W.A. Jones has a unique value proposition in its markets with deep customer relationships. With the recapitalization, we saw the opportunity to partner with good people to build upon this market position,” said David Wood, managing partner of Foundation Investment Partners. “Our focus, in partnership with the management team, will be on adding systems and people to support growth and enhance the customer experience.”
Foundation Investment Partners invests in niche manufacturers, value-added distributors, outsourced business service providers, and niche software developers with EBITDA of $1 million to $5 million. The firm was founded by David Wood in 2009 and is headquartered near Cleveland in Chagrin Falls, OH (www.foundationpartners.net).
© 2019 Private Equity Professional | August 15, 2019