New chief for EY Akron office
EY, formerly known as Ernst & Young, has appointed Whitt Butler, to lead the accounting and professional services firm’s Akron office, the Plain Dealer reported.
Butler will succeed Jerry Gootee as the office’s managing partner. Gootee will remain in Northeast Ohio, while taking on a new leadership role as the Americas advisory leader for the diversified industrial products and automotive and transportation sector.
Monte C. Repasky will succeed EY Vice Chair and Central Region Managing Partner-Elect Julie Boland as EY’s Cleveland office managing partner. Earlier this year, Boland was named vice chair, central region managing partner-elect. Since 2014, she has served as Cleveland’s managing partner. The succession will see Repasky lead the firm’s second-largest office with 1,200 people. Both men will start in their new roles in July.
Davis-Besse plant goes offline
The FirstEnergy Nuclear Operating Co. has shut down the Davis-Besse nuclear reactor for refueling, the Plain Dealer reported.
The company said Monday it would replace about a third of the reactor’s 177 fuel rod assemblies and do other routine inspection and preventive maintenance of the power plant’s major components.
More than 1,000 contractors will assist Davis-Besse’s 700 employees in the refueling and maintenance. Davis-Bess was last refueled during a six-week shutdown from March 26 to May 9, 2016.
Capestrain ends 62-year run
After 62 years in business, Capestrain Jewelers is closing its doors and ending an era. A going-out-of-business sale began Friday, the Canton Repository reported.
The store’s website says Capestrain has been a family-operated business specializing in all styles of jewelry, timepieces, precious stones and metals. Bob Capestrain started the store in 1956; his daughter, Karen Capestrain, has owned the business since 2007. A message seeking comment was left with her Friday. A newspaper advertisement noted that “Karen will continue her career as a traveling jeweler.”
Group buys parts supplier
Chagrin Falls-based private equity firm Foundation Investment Partners has purchased the assets of Akron-based Discount Drainage Supplies.
Terms of the transaction were not disclosed.
The purchase, which was announced Monday, includes Discount Drainage locations in Akron, Columbus and Cincinnati. Discount Drainage is a regional supplier and distributor of drainage and construction products.
“Discount Drainage has been highly successful and will fit into our model quite well,” FIP managing partner David Wood said in a prepared statement. “We will continue the world class standards of Discount Drainage, providing additional tactical support, strategic guidance and financial resources.”
Ravenna site doubles in size
Wholesale foods distributor Sirna & Sons has spent $8 million to double the size of its Ravenna facility, adding 60,000 square feet of storage space, truck docks and offices, Crain’s Cleveland Business reported.
“We now have the capability to meet grocery store needs, and we are looking to move in that direction,” Tom Sirna told the publication.
Buffett firm expands overseas
Berkshire Hathaway’s real estate brokerage is expanding overseas with a new franchisee in Germany.
Berkshire Hathaway HomeServices said Monday it is adding Berlin-based Rubina Real Estate to its network. Terms weren’t disclosed.
The deal gives the Warren Buffett-led conglomerate another affiliate in Germany and helps raise the Omaha, Neb-based company’s profile in Europe, where it is searching for sizeable acquisitions to invest its more than $116 billion.
Compiled from staff and wire reports.
Business news briefs, March 6: EY names new managing partner for Akron office