Columbia West Capital News - Southwest Deal Intelligence
10.24.17 Utah Deal Intelligence - September 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  

9/8/2017 Clear Link Technologies, LLC acquired Portent, Inc. The terms of the transaction were not disclosed. Clear Link Technologies provides marketing, sales, and technology services for various brands and is based in Salt Lake City.    

9/12/2017 DWC - The 401(k) Experts acquired Hawkins Retirement. The terms of the transaction were not disclosed. Hawkins Retirement provides plan design and consulting services, plan document services, annual compliance testing services, annual reporting services, and 3(16) fiduciary services for qualified retirement plans nationwide and is based in Orem.    

9/18/2017 O.C. Tanner Company agreed to acquire Accumulate Loyalty Services Limited. The terms of the transaction were not disclosed. O.C. Tanner develops strategic employee recognition and reward solutions and is based in Salt Lake City.    

9/19/2017 Clean Machine, Inc. agreed to acquire a stake in Kreisel Electric GmbH. The terms of the transaction were not disclosed. Clean Machine manufactures precision component parts for medical, semiconductor, aerospace, defense, and consumer product markets and is based in West Jordan.    

9/27/2017 Dynatronics Corporation (NasdaqCM:DYNT) agreed to acquire substantially all of the assets of Bird & Cronin, Inc. for $15.5 million. Dynatronics designs, manufactures, distributes, and markets physical medicine products in North America and is based in Cottonwood Heights. Durham Jones & Pinegar, P.C. served as legal advisor to Dynatronics.

9/29/2017 MeriCal, LLC acquired Pro Pac Labs, Inc. dba Global Health Industries (GHI). The terms of the transaction were not disclosed. GHI is a highly specialized manufacturer and packager of probiotics, including bacteria, spores and yeast products, with a particularly strong presence in the probiotic segment of the Vitamins, Minerals and Supplements (VMS) industry and is based in Ogden. Columbia West Capital served as the exclusive financial advisor to GHI. Durham Jones & Pinegar, P.C. served as legal advisor to GHI.                  

M&A - Financial  

9/6/2017 Petra Capital Partners, LLC, MMC Health Services, Inc. and Jeff Skibitsky acquired Alternative Behavior Strategies Inc. The terms of the transaction were not disclosed. Alternative Behavior Strategies provides health care services and is based in Salt Lake City.

9/7/2017 Freeman Spogli & Co. Incorporated acquired a majority stake in Cafe Rio, Inc. The terms of the transaction were not disclosed. Cafe Rio operates a chain of casual restaurants in the United States and is based in Salt Lake City.  

9/29/2017 EQT Partners agreed to acquire Clinical Innovations, LLC. The terms of the transaction were not disclosed. Clinical Innovations engages in the research, development, and manufacturing of medical devices that improve the lives of mothers and their babies and is based in Murray.  

Private Placements  

9/13/2017 AFE INC. announced a private placement of 2,350,000 common shares at $10 per share for gross proceeds of $23.5 million from existing investor PCE Paragon Solutions KFT. AFE operates as a subsidiary of PCE, which manufactures computer components in Hungary and is based in Highland.    

9/13/2017 Marketware, Inc. announced that it has received $4.5 million in its Series B round of funding led by existing investor EPIC Ventures and including participation from existing investor Peak Ventures. Marketware provides CRM technologies and business intelligence applications for hospitals, specialty clinics, and post-acute care applications and is based in Midvale. EPIC Ventures is a private equity and venture capital firm based in Salt Lake City. Peak Ventures is a venture capital firm based in Provo.    

9/14/2017 PolarityTE, Inc. (NasdaqCM:COOL) announced a private placement of Series F convertible preferred stock for gross proceeds of $15.2 million. PolarityTE operates as a regenerative medicine company in the United States and is based in Salt Lake City.

9/14/2017 Simplus announced that it will receive $9.3 million in funding. As of September 25, 2017, the company has received $7.8 million in its first tranche from 12 investors. Simplus provides software as a service products and support services that streamline and simplify global enterprise work management processes and is based in Sandy.    

9/18/2017 DirectScale, LLC announced that it has received $8.5 million in funding from five investors. DirectScale provides raw marketing creativity and corporate brand management services and is based in Lindon.    

9/26/2017 DiscGenics, Inc. announced that it has received $14.0 million in its Series B round of funding led by new investor, Mitsubishi UFJ Capital Co. Ltd., company's existing investors and its board of directors. DiscGenics operates as a disc stem cell company which develops advanced spinal stem cell therapeutics to treat patients with diseases of the intervertebral disc and is based in Salt Lake City.  

9/26/2017 Dynatronics Corporation (NasdaqCM:DYNT) announced that it has entered into a securities purchase agreement for a private placement of up to 2,800,000 Series C non-voting convertible preferred stock at a price of $2.50 per stock for gross proceeds of $7.0 million. Dynatronics designs, manufactures, distributes, and markets physical medicine products in North America and is based in Cottonwood Heights.