Columbia West Capital News - Southwest Deal Intelligence
06.22.17 Utah Deal Intelligence May 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  

5/3/2017 I-Evolve Inc. agreed to acquire the SMB Managed Services division of Crossfuze LLC. The terms of the transaction were not disclosed. Crossfuze provides software implementation, integration, and consulting services and is based in Elwood.    

5/5/2017 Zija International, Inc. acquired XanGo, LLC. The terms of the transaction were not disclosed. Zija produces Moringa-based products and is based in Lehi. XanGo produces and markets mangosteen beverage juice and nutritional products and is based in Lehi.    

5/5/2017 MetaSource, LLC acquired DataImage Inc. The terms of the transaction were not disclosed. DataImage provides document process automation and business process management solutions and is based in Salt Lake City.    

5/8/2017 Rodd Steuart, Jason Fogg and Chris Anderson acquired Handstands Promo, LLC from Energizer Holdings, Inc. (NYSE:ENR). HandstandsPROMO designs, develops, manufactures, and sells promotional products and accessories in the advertising specialty, technology and automotive accessory markets and is based in Salt Lake City.    

5/9/2017 Straightline Performance Inc. acquired Mountain Performance, Inc. The terms of the transaction were not disclosed. Mountain Performance manufactures and markets automotive parts, engines, and accessories for snowmobiles and small motor vehicles and is based in Draper.    

5/15/2017 Franklin Covey Co. (NYSE:FC) acquired Robert Gregory Partners, LLC. The terms of the transaction were not disclosed. Franklin Covey provides training and consulting services in the areas of leadership, productivity, strategic execution, trust, sales force performance, customer loyalty, and communication effectiveness skills and is based in Salt Lake City.    

5/19/2017 Young Living Essential Oils LC acquired Life Matters, LLC. The terms of the transaction were not disclosed. Young Living provides essential oils and wellness solutions and is based in Lehi.    

5/21/2017 Clariant AG (SWX:CLN) agreed to acquire Huntsman Corporation (NYSE:HUN) from Huntsman Family Holdings Company LLC and Jon & Karen Huntsman Foundation, Endowment Arm, and others for $6.7 billion. Huntsman Corporation manufactures and sells differentiated organic and inorganic chemical products worldwide and is based in The Woodlands, TX. Huntsman Family Holdings Company LLC and the Jon & Karen Huntsman Foundation, Endowment Arm are based in Salt Lake City. Utah.    

5/22/2017 Optima Healthcare Solutions, LLC acquired Hospice Management, LLC. The terms of the transaction were not disclosed. Hospice Management develops web-based software solutions for hospice management and is based in Springville.    

5/23/2017 Legend Ventures LLC acquired Aspire Energy of Ohio, LLC from Chesapeake Utilities Corporation (NYSE:CPK). The terms of the transaction were not disclosed. Legend Ventures distributes solar solutions to residential and commercial customers and is based in Washington.    

5/24/2017 Xcel Financial, LLC agreed to acquire Berrett Mortgage Services. The terms of the transaction were not disclosed. Xcel Financial develops an online mortgage lending platform and is based in Heber. Berrett Mortgage Services provides mortgage brokerage services and is based in Park City.    

5/31/2017 HealthEquity, Inc. (NasdaqGS:HQY) agreed to acquire assets of BenefitGuard, LLC. The terms of the transaction were not disclosed. HealthEquity provides various solutions for managing health care accounts, health reimbursement arrangements, and flexible spending accounts for health plans, insurance companies, and third-party administrators and is based in Draper. BenefitGuard provides 401(k) retirement solutions and programs for small to mid-size businesses and is based in Orem.  

5/31/2017 People's Intermountain Bank agreed to acquire Town & Country Bank, Inc. for $20.9 million. People's Intermountain Bank offers personal and business banking services and is based in American Fork. Town & Country Bank offers personal and commercial banking services and is based in St. George. Dorsey & Whitney LLP is served as legal advisor to People's Utah Bancorp. Jones Waldo Holbrook & McDonough, PC is serving as legal advisor to Town & Country Bank.  

M&A - Financial  

5/8/2017 DW Healthcare Partners acquired an unknown majority stake in Champion Manufacturing, Inc. The terms of the transaction were not disclosed. DW Healthcare Partners is a private equity and venture capital firm based in Park City.  

5/21/2017 HGGC, LLC agreed to acquire Nutraceutical International Corporation (NasdaqGS:NUTR) from Frank W. Gay II, Jeffrey A. Hinrichs and others for $432.7 million. Nutraceutical International manufactures, markets, distributes, and retails branded nutritional supplements and other natural products and is based in Park City. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to Nutraceutical.  

Private Placements  

5/1/2017 ProdataKey, Inc. announced that it has received an equity capital investment from an undisclosed strategic investor. The terms of the transaction were not disclosed. Based in South Jordan, ProdataKey designs hardware and software for electronic access control systems. Durham Jones & Pinegar, P.C. served as legal advisor to ProdataKey.    

5/6/2017 Fortem Technologies, Inc. announced that it has received $5.5 million in a seed round of funding co-led by new investors Data Collective and Signia Venture Partners. Fortem Technologies develops and manufactures ultra-small SWaP-C radar for small manned aircrafts, as well as the data necessary for safe beyond line of sight unmanned aerial vehicles operations and is based in Provo.    

5/9/2017 Artemis Health Inc. announced that it has received $8.3 million in its Series A round of funding led by new investor Maverick Ventures. Artemis Health operates as a health data analytics company and is based in Salt Lake City.    

5/12/2017 Envoy Energy Corporation announced that it has received a round of funding from NorthSpring Capital Partners. The terms of the transaction were not disclosed. Envoy is an energy company based in South Salt Lake.  

5/25/2017 The Prumentum Group, Inc. announced that it has received $25.0 million in its Series A round of funding from The Cynosure Group and other investors. The Cynosure Group is a private equity firm based in Salt Lake City.  

Other Transactions  

May 2017 - Associated Food Stores, Inc. completed the refinancing of a senior secured line of credit. The terms of the transaction were not disclosed. Based in Salt Lake City, Associated Food Stores operates as a wholesale distributor of grocery, frozen, meat, deli, bread, dairy and non-food, and natural and organic items to supermarkets and independent grocers primarily in Montana, Oregon, Idaho, Wyoming, Nevada, Utah, Colorado, and Arizona. Durham Jones & Pinegar, P.C. served as legal advisor to Associated Food Stores.