Utah Deal Intelligence - September 2019
This report is prepared as a courtesy to the Utah business community by Columbia West 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
9/3/2019 Forum Health LLC acquired Texas Integrative Medicine. The terms of the transaction were not disclosed. Forum Health provides precision health services and is based in West Jordan.
9/5/2019 Buy Box Experts acquired Nozani, LLC. The terms of the transaction were not disclosed. Nozani offers marketing and consulting services to e-commerce sellers of Amazon and is based in Lindon. Buy Box Experts is a consulting and management agency supporting brands on the Amazon marketplace and is based in South Jordan.
9/6/2019 Brydge Technologies LLC acquired Henge Docks LLC. The terms of the transaction were not disclosed. Brydge Technologies manufactures and retails tablet keyboards and is based in Park City.
9/9/2019 MarketStar Corporation acquired Product2Market. The terms of the transaction were not disclosed. MarketStar operates as a sales, marketing, and business process outsourcing agency and is based in Ogden.
9/9/2019 Emerald Textiles, LLC acquired the assets of Staheli Laundry Services, LLC. The terms of the transaction were not disclosed. Staheli Laundry Services provides healthcare linen and laundry services and is based in Saint George.
9/12/2019 HID Global Corporation acquired Avalanche Cloud Corporation, doing business as HydrantID. The terms of the transaction were not disclosed. HydrantID provides information technology encryption and authentication services and is based in Salt Lake City.
9/18/2019 Listen Technologies Corporation acquired AudioConexus, Inc. The terms of the transaction were not disclosed. Listen Technologies engages in the development, manufacture, marketing, and sale of personal communication/wireless audio products for assistive listening, tour group, language interpretation, sound field, and conferencing applications and is based in Bluffdale.
9/30/2019 Sportsman's Warehouse, Inc. agreed to acquire eight Field & Stream stores from DICK'S Sporting Goods, Inc. (NYSE:DKS) for $28.0 million. Sportsman's operates outdoor sporting goods retail stores and is based in Midvale. Reed Smith LLP is acting as legal advisor to DICK'S Sporting Goods. Ballard Spahr LLP is serving as legal advisor to Sportsman's.
M&A – Financial
9/30/2019 Leeds Equity Partners, LLC acquired VitalSmarts, LC. The terms of the transaction were not disclosed. VitalSmarts provides corporate training and organizational performance services and is based in Provo.
Private Placements
9/3/2019 Nikola Motor Company announced that it will receive $1.0 billion in its Series D round of funding led by new investor CNH Industrial N.V. (NYSE:CNHI). On September 5, 2019, the company announced that it has received more than $330.0 million in its first tranche, which included participation from CNH for $100.0 million and existing investors Hanwha Corporation (KOSE:A000880) and Robert Bosch Venture Capital GmbH for more than $100.0 million each for gross proceeds of $230.0 million. Nikola manufactures and markets electric vehicles and is based in Salt Lake City.
9/3/2019 HireVue, Inc. announced that it has signed an agreement with new investor Carlyle Group L.P. (NasdaqGS:CG). HireVue develops and delivers video interviewing software solutions and assessment services for recruiting and hiring talent and is based in South Jordan.
9/10/2019 Infusion for Health announced that it has received funding for majority recapitalization and growth equity capital from new investor Cimarron Healthcare Capital LP. Cimarron is a private equity firm based in Salt Lake City.
9/12/2019 GiGstreem, LLC announced that it has received $10.0 million in a round of funding from RETV Management LLC and LNC Partners. RETV is a venture capital firm based in Park City.
9/12/2019 Shape Security, Inc. announced that it has received $51.0 million in an equity round of funding from C5 Capital Ltd, EPIC Ventures, and other investors. EPIC Ventures is a private equity and venture capital firm based in Salt Lake City.
9/17/2019 Dental Intelligence, Inc. announced that it has received $34.0 million in its Series A round of funding from new investor K1 Investment Management, LLC. Dental Intelligence designs and develops a suite of software solutions for dentists that allows them to track, analyze, and communicate with clients and is based in Pleasant Grove.
9/26/2019 Fetch Package, Inc. announced that it has received $10.5 million in a round of funding led by new investor Signal Peak Ventures with participation from returning investor Silverton Partners and Capital Factory. Signal Peak is a private equity and venture capital firm based in Salt Lake City.
9/30/2019 Kenna Security, Inc. announced that it has received $48.0 million in its Series D round of funding co-led by Sorenson Capital and Citi Ventures, Inc. with participation from Bessemer Venture Partners, U.S. Venture Partners, and other investors. Sorenson Capital is a private equity and venture capital firm based in Lehi.