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
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.
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.
An employee of a Papa Johns restaurant in Cincinnati, Ohio, is accused of shooting and killing a man inside the store on Tuesday night.
Police in Cincinnati said Murphy Tilk, 21, fatally shot 23-year-old Nawaf Althawadi inside the West Price Hill restaurant around 11 p.m., CBS affiliate WKRC reported. When first responders arrived at the restaurant on West Eighth Street, they performed life-saving measures on Althawadi, who died at the scene. Officials said the 21-year-old Tilk, who was taken into custody without incident and charged, is a Papa Johns employee, according to the Cincinnati Enquirer.
Tilk booked into the Hamilton County Justice Center on a first-degree murder charge, the center’s records show. During Tilk’s initial court appearance on Wednesday, he was held without bond. The 21-year-old man has a bond hearing set for Saturday.
Law enforcement has not said what led up to the shooting or if Tilk and Althawadi knew each other. Police are investigating the shooting.
KDKA reached out to Papa Johns on Wednesday evening for comment, but has not heard back.
Papa Johns is a pizza chain with 6,000 locations globally, according to its website. It has 15 locations in Cincinnati.
California’s last nuclear plant clears major hurdle to power on
UCLA’s Donovan Dent could be rounding into form just in time for Gonzaga showdown
Europe’s rocky relations with Donald Trump
Israel bombards areas across southern Lebanon in latest truce violation
Trump announces pardon for Tina Peters, increasing pressure to free her though he can’t erase state charges | CNN Politics
Florida High School Football Rankings: Top 25 teams – Oct. 21
Cleary's 21 help Le Moyne down Central Connecticut State 69-64 in OT
How old is Bo Nix? What to know about Oregon quarterback ahead of 2024 NFL Draft
99th annual Pony Swim held in Virginia
Video: ‘It Didn’t Have to Happen This Way:’ U.Va. Faculty Call for Review of Police Response to Protests
Israel bombards areas across southern Lebanon in latest truce violation
Trump announces pardon for Tina Peters, increasing pressure to free her though he can’t erase state charges | CNN Politics
Video: Hiker Rescued From Quicksand in Arches National Park
The Speaker’s Lobby: What Congress’ December script means for healthcare next year
Coalition of the Willing calls for transatlantic unity for Ukraine
-
Alaska6 days agoHowling Mat-Su winds leave thousands without power
-
Politics1 week agoTrump rips Somali community as federal agents reportedly eye Minnesota enforcement sweep
-
Ohio1 week agoWho do the Ohio State Buckeyes hire as the next offensive coordinator?
-
Texas6 days agoTexas Tech football vs BYU live updates, start time, TV channel for Big 12 title
-
News1 week agoTrump threatens strikes on any country he claims makes drugs for US
-
World1 week agoHonduras election council member accuses colleague of ‘intimidation’
-
Washington3 days agoLIVE UPDATES: Mudslide, road closures across Western Washington
-
Iowa5 days agoMatt Campbell reportedly bringing longtime Iowa State staffer to Penn State as 1st hire