Hey there, Springville! Let's get started with what's happening in and around town. Read on and stay in the loop. āļøļø
In today's newsletter:
Today's riddle: What are the two sides of a circle? š¤ (Answer below!)
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1. Utah County-based Clyde Companies marks 100 years by building new community of 'Ironton' (ksl.com) ā Clyde Companies has broken ground on Ironton, a neighborhood planned for the Springville-Provo border with homes, restaurants, walking trails and an ice-skating ribbon. The company, marking 100 years since its Springville beginnings, is also building a new headquarters across the street. Leaders describe the development as a long-term investment in community gathering places.
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2. Levine Leichtman Capital Partners Acquires Five Star Franchising from Princeton Equity Group (citybiz.co) ā Springville-based Five Star Franchising has a new owner, with private equity firm Levine Leichtman Capital Partners buying the home-services company from Princeton Equity Group. Co-founders Scott Abbott and Chad Jones will continue leading the business, which spans more than 870 franchise locations. Financial terms were not disclosed.
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3. Collapsing ladder reports prompt Little Giant recall at Lowe's, Costco (houstonchronicle.com) ā About 3.6 million Little Giant ladders with Rapid Locks are being recalled after reports of sudden collapse and injuries, federal safety officials say. Consumers should stop using the ladders and contact the Springville-based manufacturer for a repair kit, replacement or refund based on depreciated value. The ladders were sold nationwide, including at Loweās and Costco.
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4. Apollo backs $750m round for AI data company; KKR to buy Texas water business (alternativeswatch.com) ā Springville-based Five Star Franchisingās sale to Levine Leichtman Capital Partners appears in a national roundup of investment deals. The home-services franchisorās co-founders will remain in charge as its new owner pursues franchise growth and acquisitions. Other deals include a $750 million AI financing round and a planned West Texas water-infrastructure acquisition.
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Ok Springville! So now you're in the loop about what's happening today. Thanks for reading, and see you in your inbox next time! Oh -- and if you like what you're reading, invite a friend to Patch AM!
-- The Patch AM Team
P.S. The answer to today's riddle: "What are the two sides of a circle?" ā The inside and the outside ! (Thank you James M. for sending it in!)
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