Ohio
Foundation Investment Partners Completes Acquisition of Spartan Tool Supply in Columbus, Ohio
CHAGRIN FALLS, Ohio, March 11, 2024 /PRNewswire/ — Foundation Investment Partners is pleased to announce the successful acquisition of Spartan Tool Supply, a premier distributor of industrial power tools and equipment based in Columbus, Ohio. Terms of the transaction were not disclosed.
For over 45 years, Spartan Tool Supply has served as a trusted supplier of high-quality commercial tools and equipment to businesses across various industries. With a strong focus on customer service and reliability, Spartan Tool Supply has built enduring relationships with clients throughout Central Ohio.
“We are thrilled to welcome Spartan Tool Supply into the Foundation Investment Partners family,” said David Wood, Managing Member of Foundation Investment Partners. “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.” FIP plans to leverage its deep experience in the industrial distribution space to create value immediately.
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. The acquisition will provide Spartan with access to new resources and expertise to expand the team, enter new markets and build upon the Company’s success.
“We are excited about the opportunities that lie ahead as part of Foundation Investment Partners,” said Derek Elbaor. “With their support, we are confident that we can further elevate our capabilities and better serve our customers while staying true to the principles that have guided us for decades.”
About Foundation Investment Partners
Foundation Investment Partners is a private equity firm focused on building companies that account for the well-being of our people, recognizing that the cared for and empowered are more likely to outperform. FIP focuses 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. FIP’s operating model focuses on embedding our team with the owners or operators of smaller businesses to provide the support, guidance, and resources necessary to grow the business. For more information, please visit www.foundationpartners.net
Contact:
David Wood
Founder & Managing Member
Foundation Investment Partners
[email protected]
(440) 903-1791
SOURCE Foundation Investment Partners
Ohio
Ohio Goes to the Movies announces lineup for free, yearlong statewide film festival
CLEVELAND, Ohio — Ohio Goes to the Movies, the statewide film festival launching in February, is coming into focus. Organizers have released the initial schedule for the nearly yearlong event. Part of the state’s America 250 celebration, it will bring more than 280 screenings to all 88 counties. Each film is tied to the Buckeye State in some way, and all screenings are free.
“Ohio has played a significant role in the history of American film and continues to attract talent, productions and storytelling that resonate around the world,” Ohio Gov. Mike DeWine said in a statement. “Ohio Goes to the Movies ensures that residents in every community can participate in the America 250 celebration and rediscover the films that connect us.”
From classic movies starring or made by Ohioans to Hollywood blockbusters shot in downtown Cleveland, the lineup highlights the depth of the state’s influence on the film industry. The festival is also meant to encourage movie fans to explore the state by attending screenings all over Ohio.
Here’s a list of events planned for Northeast Ohio’s seven-county region.
CUYAHOGA COUNTY
“Close Encounters of the Third Kind.” Feb. 12. Phoenix Theatres Great Northern Mall.
“Major League.” March 1. Cinemark Strongsville at SouthPark Mall.
“Draft Day.” March 1. Cinemark Valley View.
“Welcome to Collinwood.” March 12. Cleveland History Center.
“Major League.” April 5. Capitol Theatre.
“Cool Hand Luke.” April 12. Cedar Lee Theatre.
“Draft Day.” April 23. Atlas Cinemas at Shaker Square.
“Toy Story 2.” June 24. Chagrin Documentary Film Festival HQ.
“The Scarlet Letter.” July 11. Cleveland Silent Film Festival at Cleveland Public Library.
“Captain America: The Winter Soldier.” July 11. Great Lakes Science Center.
“More Than a Game.” Sept. 11. AMC Ridge Park Square.
“Superman.” Sept. 18. AMC Westwood Town Center.
“Passing Through.” Sept. 19. Cleveland Institute of Art Cinematheque.
“Kill the Irishman.” Oct. 6. Atlas Cinemas Lakeshore.
GEAUGA COUNTY
“A Christmas Story.” June 11. Mayfield Road Drive-In Theatre.
LAKE COUNTY
“White Boy Rick.” March 11. Regal Willoughby Commons.
“Superman.” April 8. Atlas Cinemas Great Lakes Stadium.
“Air Force One.” July 7. Atlas Cinemas Diamond Center.
LORAIN COUNTY
“The Princess Bride.” April 22. Apollo Theatre.
“The Hunger Games.” Sept. 18. Regal Cobblestone Square.
MEDINA COUNTY
“Major League.” March 7. Hickory Ridge Cinema.
“Draft Day.” Sept. 12. Regal Medina.
PORTAGE COUNTY
“Unstoppable.” Feb. 22. Atlas Cinemas Barrington.
“Dog Man.” March 8. The Kent Stage.
“The Philadelphia Story.” March 19. Kent State University Museum.
“A Christmas Story.” June 10. Midway Twin Drive-In Theatre.
SUMMIT COUNTY
“The Big Short.” Feb. 21. Regal Hudson.
“The Avengers.” April 12. Akron Civic Theatre.
“Howard the Duck.” May 21. The Nightlight Cinema.
“Down by Law.” June 13. Akron–Summit County Public Library Main.
For a complete guide, go to ohiogoestothemovies.org.
Ohio
Multiple homes destroyed by fire in Meigs County, Ohio
POMEROY, Ohio (WCHS) — A fire destroyed one home and damaged two others Wednesday evening, but then rekindled early Thursday morning and destroyed another home, police said.
The fire was first reported just after 6:30 p.m. on Wednesday night in the 300 block of Wetzgall Street in Pomeroy, according to a press release from the Pomeroy Police Department.
According to police, the fire spread to the two homes on either side of the original home on fire. Firefighters contained the fire and saved the two surrounding homes, but the home that first caught fire was deemed a total loss.
Then, just after 3 a.m. on Thursday morning, the fire rekindled and spread to one of the other homes, resulting in a total loss of that home as well, police said.
Pomeroy police said both homes were occupied at the time of the fires, but all occupants of each home were able to exit their homes safely. Police also said that there were no reported injuries, though both families lost everything they owned due to the total losses of the homes.
The cause of the fire has not been determined, and the incident is still under active investigation by the Ohio State Fire Marshal’s Office, according to police.
Ohio
DOE aims to end Biden student loan repayment plan. What it means for Ohio
What we know about student loans and the Education Department
Will Education Department restructuring affect your student loans? Here’s what we know know.
Student loan borrowers under the Biden-era student loan repayment plan, Saving on a Valuable Education (SAVE), may soon have to select a new repayment plan after the U.S. Department of Education agreed to a measure to permanently end the program.
A proposed joint settlement agreement announced Tuesday between the DOE and the State of Missouri seeks to end what officials call the “illegal” SAVE program, impacting more than seven million SAVE borrowers who would have to enroll in another program. The settlement must be approved by the court before it can be implemented.
Ohio borrowers carry some of the nation’s highest student loan debt. Here’s how the proposed change could affect them.
What is the SAVE plan?
Originally known as REPAYE, the Saving on a Valuable Education (SAVE) plan was created to deliver the lowest monthly payments among income-driven repayment programs. Under the Biden administration, it became the most affordable option for borrowers.
According to USA TODAY, the SAVE plan was part of Biden’s push to deliver nearly $200 billion in student loan relief to more than 5 million Americans. It wiped out $5.5 billion in debt for nearly half a million borrowers and cut many monthly payments down to $0.
But officials in President Donald Trump’s administration claim the Biden plan was illegal.
Why does the Department of Education want to end the SAVE plan?
The DOE says the SAVE plan aimed to provide mass forgiveness without congressional approval, costing taxpayers $342 billion over 10 years. In a press release, the Department said the administration promised unrealistically low payments and quick forgiveness without legal authority.
“The Trump administration is righting this wrong and bringing an end to this deceptive scheme,” Under Secretary of Education Nicholas Kent said in a release. “Thanks to the State of Missouri and other states fighting against this egregious federal overreach, American taxpayers can now rest assured they will no longer be forced to serve as collateral for illegal and irresponsible student loan policies.”
If the agreement is approved by the court, no new borrowers will be able to enroll in the SAVE plan. The agency says it will deny any pending applications and move all SAVE borrowers back into other repayment plans.
Borrowers currently enrolled in the SAVE Plan would have a limited time to select a new repayment plan and begin repaying their student loans.
The DOE adds that it is working on the loan repayment provisions of the “One Big Beautiful Bill” Act, which created a new Income-Driven Repayment plan called the Repayment Assistance Plan (RAP), that will be available to borrowers by July 1, 2026.
How many people in Ohio have student loan debt?
Numbers from the Education Data Initiative show that there are about 1.7 million student loan borrowers in Ohio, carrying over $60 billion in debt. The average student loan debt is approximately $35,072.
Ohio also ranks No. 10 among the states with the most student debt, according to personal finance site WalletHub.
How much money does Ohio get from the Department of Education?
The DOE budget for Ohio for fiscal year 2025 is estimated to be more than $5.65 billion, The Columbus Dispatch previously reported.
President Trump announced his intentions to eliminate the Department of Education earlier this year, meaning that Ohio could lose more than $5 billion in annual funding.
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