I used 2 off camera speedlight flashes to light this. The background was plain and even red so I mounted a Honl Snoot/Reflector on one of my flashes that I used to light the background. This gave me a nice and unevenly lit background which is considered more attractive in product shots unless you'd like to have an evenly lit background for a reason. For those who are curious what the Honl Snoot/Reflector is, here is the link:
You can probably make one of these at home too. Of course, I used it as a snoot and not a reflector.
Another flash was used to light the pipe wrench ... again with a Honl Snoot wrapped around it for more concentrated light so it would only light the area of the wrench that I wanted it to.
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