Columbia West Capital News - Southwest Deal Intelligence
05.25.17 Utah Deal Intelligence - April 2017


This report is prepared as a courtesy to the Utah business community by Columbia West Capital based on our research and information collected by our firm. Despite our dedicated efforts, occasionally a deal might be missed or appropriate credit not given to legal or financial advisors. Please feel free to contact us if you have information on a transaction that you want to ensure is included and credit attributed to appropriate advisors. Also, feel free to forward to others who may have interest; they can be added to the regular distribution by contacting our office. Our contact information is below.      

M&A - Strategic  

4/3/2017 Dynatronics Corporation (NasdaqCM:DYNT) acquired substantially all of the assets of Hausmann Industries, Inc. for $10.0 million in cash, subject to certain adjustments. The purchase price for the acquisition was funded through the sale of equity securities for gross proceeds of $7,795,000 and a credit facility entered into with Bank of the West. Dynatronics designs, manufactures, distributes, and markets physical medicine products in North America and is based in Cottonwood Heights. Durham Jones & Pinegar served as legal advisor to Dynatronics with respect to the sale of equity securities, the credit facility with Bank of the West and certain discrete matters on the acquisition.    

4/3/2017 CircusTrix Holdings, LLC acquired Rockin' Jump Holdings, LLC. The terms of the transaction were not disclosed. CircusTrix owns and operates indoor recreation parks and is based in Provo. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to CircusTrix.    

4/6/2017 Nutraceutical International Corporation (NasdaqGS:NUTR) acquired substantially all the assets of Zhou Nutrition from Branson Books LLC for $19.7 million in cash. Nutraceutical International Corporation manufactures, markets, distributes, and retails branded nutritional supplements and other natural products in the United States and internationally and is based in Park City.    

4/7/2017 Simplus agreed to acquire EDL Consulting, Inc. The terms of the transaction were not disclosed. Simplus provides software as a service products and support services that streamline and simplify global enterprise work management processes and is based in Sandy.    

4/12/2017 eLearning Brothers, LLC acquired Media 1 Interactive, Inc. The terms of the transaction were not disclosed. eLearning Brothers designs and develops templates and stock assets that enable users to create courses and is based in Saratoga Springs.

4/12/2017 Zift LLC acquired PayVisors LLC. The terms of the transaction were not disclosed. Zift operates a payment processing platform and is based in Spanish Fork.    

4/12/2017 Ivanti acquired Concorde Solutions Limited. The terms of the transaction were not disclosed. Ivanti provides systems management, security management, service management, and process management solutions to organizations and is based in South Jordan.    

4/12/2017 Mortgage Cadence, LLC acquired BeesPath Inc. The terms of the transaction were not disclosed. BeesPath owns and operates a web-based platform, which facilitates communications and file exchange for real estate finance transactions and is based in Richmond.    

4/13/2017 AlphaGraphics, Inc. agreed to acquire 3AM Projects LLC, doing business as Brand X Custom T-Shirts. The terms of the transaction were not disclosed. AlphaGraphics is a marketing communications firm providing a range of print, visual communications, and marketing products and solutions and is based in Salt Lake City.    

4/18/2017 Investment Grade Technologies LLC acquired majority ownership stake in TradeWarrior Inc. The terms of the transaction were not disclosed. TradeWarrior engages in the development of portfolio rebalancing software for financial advisory firms and is based in St. George.    

4/18/2017 Air Medical Group Holdings, Inc. agreed to acquire Air Medical Resource Group Inc. The terms of the transaction were not disclosed. Air Medical Resource Group provides air medical services transporting patients in rural area hospitals to large tertiary care facilities in metropolitan areas and is based in South Jordan. Latham & Watkins LLP served as legal advisor to Air Medical Resource Group.    

4/18/2017 Savage Industries, Inc. acquired Gobco, LLC and Power Fuels LLC. The terms of the transaction were not disclosed. Savage Industries provides supply chain solutions to businesses in North America and internationally and is based in Midvale.    

4/20/2017 Intermountain Staffing acquired LCL Staffing LLC. The terms of the transaction were not disclosed. Intermountain Staffing provides staffing services in the United States and is based in North Salt Lake.    

4/27/2017 Oregon Health Care Quality Corporation agreed to acquire HealthInsight, Inc. The terms of the transaction were not disclosed. HealthInsight provides healthcare quality improvement services in Nevada, New Mexico, and Utah and is based in Salt Lake City.  

4/28/2017 Cyrq Energy, Inc. agreed to acquire Nevada Geothermal Utility Company. The terms of the transaction were not disclosed. Cyrq Energy, a renewable energy company, primarily focuses on geothermal power development and is based in Salt Lake City.  

M&A - Financial

4/20/2017 A group of investors including RAF Industries, Inc., Cimarron Healthcare Capital LP and Leavitt Equity Partners agreed to acquire an unknown stake in Advanced Medical Pricing Solutions. The terms of the transaction were not disclosed. Leavitt Equity Partners specializes in growth and lower middle market investments and is based in Salt Lake City.

Private Placements  

4/3/2017 Foldax, Inc. announced that it will receive $9.0 million in funding. As of May 12, 2017, the company received $300,000 in its first tranche from one investor. Foldax operates in the technology industry and is based in Salt Lake City.    

4/7/2017 Big Moon Power, LLC announced that it will receive $10.0 million in a round of equity funding. As of April 21, 2017, the company received $2.0 million in its first tranche closing from a single investor. Big Moon Power provides technology for harnessing the power of the moon with the ocean's tides to generate electricity and is based in Salt Lake City.    

4/7/2017 Central Logic, Inc. announced that it will receive $5.0 million in a round of funding. As of April 24, 2017, the company has received $1.6 million in its first tranche from 18 investors. Central Logic provides transfer center and on-call scheduling technology solutions for healthcare systems and is based in South Jordan.    

4/11/2017 Tegile Systems, Inc. announced that it has received $33.0 million in a round of funding led by existing investor Western Digital Capital and including participation from Cross Creek Advisors and other investors. Cross Creek Advisors is a venture capital firm based in Salt Lake City.  

4/12/2017 Qualtrics, Inc. announced that it has received $180.0 million in its pre-IPO and third round of funding led by existing investors, Insight Venture Partners and Accel. The round was raised at a pre-money valuation of $2,500.0 million. The company has raised $400.0 million in funding to date. Qualtrics provides software to collect, analyze, and act on voice of the customer, customer satisfaction, employee engagement, 360-degree reviews, brand, market research, academic insights, ad testing, product concept, and employee feedback for enterprises, academic institutions, and government agencies worldwide and is based in Provo.  

Other Transactions  

April 2017 - National Product Sales, Inc. ("NPS") completed its transaction to restructure multiple subsidiaries and affiliated entities, including the transfer and sale of multiple parcels of real property in conjunction with the buy-out of a one-third equity owner of NPS. The terms of the transaction were not disclosed. NPS is a 40+ year old overstock merchandise wholesaler based in Salt Lake City. Durham Jones & Pinegar served as legal advisor to the retiring equity owner of NPS.