Utah Deal Intelligence - February 2019

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

2/14/2019  Avetta, LLC acquired BROWZ, LLC. The terms of the transaction were not disclosed. BROWZ provides supplier qualification and management solutions and is based in Draper. Avetta develops a SaaS-based software for managing suppliers, contractors, and vendors and is based in Orem. Katten Muchin Rosenman LLP served as legal advisor to BROWZ. Kirkland & Ellis LLP served as legal advisor to Avetta.

2/15/2019  The Nielsen Company (US), LLC acquired Sorenson Media, Inc. for $11.3 million. Sorenson Media develops video encoding technology for TV broadcasters and advertisers in digital programming and is based in Draper. Cohne Kinghorn, P.C. served as legal advisor to Sorenson Media.

2/18/2019  Zweig Group LLC acquired Ignite Coaching & Consulting, LLC. The terms of the transaction were not disclosed. Ignite is a management, marketing, and business development firm based in South Jordan.

2/21/2019  Instructure, Inc. (NYSE:INST) acquired Portfolium, Inc. for $42.9 million. Instructure provides applications for learning, assessment, and performance management through a SAAS business model and is based in Salt Lake City.

2/28/2019  Fenix Group, LLC acquired Concrete Coatings, Inc. The terms of the transaction were not disclosed. Concrete Coatings manufactures cleaning products, sealers, stains and dyes, and epoxy products and is based in Layton.

M&A – Financial

2/1/2019  Platinum Equity, LLC acquired Pro-Mark, Inc. The terms of the transaction were not disclosed. Pro-Mark manufactures and supplies irrigation and watering products and is based in North Salt Lake. Bennett Tueller Johnson & Deere, LLC served as legal advisor to Pro-Mark.

2/14/2019  Five Crowns Capital, LLC acquired Cambelt International Corp. The terms of the transaction were not disclosed. Cambelt manufactures and sells conveyor systems and equipment for the material handling industry and is based in Salt Lake City.

Private Placements

2/7/2019  Health Catalyst Inc. announced that it has received $100.0 million in its Series F round of funding led by new investor OrbiMed Advisors, L.L.C. with participation from Sequoia Capital and other investors. Health Catalyst develops and delivers a data warehousing architecture that uses a just-in-time approach to integrate information from healthcare organizations into source data marts for improving clinical, financial, and operational outcomes for improved population health and is based in Salt Lake City.

2/11/2019  Flex Fleet Rental LLC announced that it has received a round of funding from new investors Transportation Resource Partners, LP and Waterfall Asset Management, LLC. Flex Fleet Rental engages in light and medium duty truck rentals and is based in Salt Lake City. Sullivan & Worcester LLP served as legal advisor to Flex Fleet Rental.

2/6/2019  HQC Holdings, Inc. announced that it will receive $15.0 million in funding. As of February 12, 2019, the company has received $12.2 million in its first tranche from 22 investors. HQC Holdings develops or modifies computer software and packaging and is based in Salt Lake City.

2/13/2019  Jvion, Inc. announced that it has received a round of funding from Intermountain Healthcare, Inc. and Trinity Health. Intermountain Healthcare owns and operates 22 not-for-profit hospitals and 185 clinics and is based in Salt Lake City.

2/20/2019  Opiniion Inc. announced that it has received a round of funding from new investor Bit Wealth Company and other investors. Opiniion develops a software that automates the process for business to collect real-time feedback from customers and is based in Lindon.

2/22/2019  Extra Space Storage LP announced that it has received $17.7 million in a round of funding from 4 investors.  Extra Space Storage manages, develops, sells, and rents self-storage facilities and is based in Salt Lake City.

2/25/2019  Medallia, Inc. announced that it has received $70.0 million in a round of funding from Sequoia Capital, Wasatch Advisors Inc., and other investors. Wasatch Advisors is an investment manager based in Salt Lake City.

2/26/2019  Uhyre, LLC, dba VNDLY Inc., announced that it has received $12.0 million in a round of funding co-led by Battery Ventures and Hyde Park Venture Partners with participation from EPIC Ventures and other investors. EPIC Ventures is a private equity and venture capital firm based in Salt Lake City.

2/21/2019  HealthJoy, LLC announced that it has received $12.5 million in its Series B round of funding led by new investor U.S. Venture Partners with participation from EPIC Ventures and other investors. EPIC Ventures is a private equity and venture capital firm based in Salt Lake City.

2/26/2019  Sera Prognostics, Inc. announced that it has received $6.4 million in funding from one investor. Sera Prognostics is a biotechnology company that develops diagnostic tests for the early prediction of a woman's individualized risk of premature birth, preeclampsia, and other pregnancy complications and is based in Salt Lake City.

2/28/2019  Socure Inc. announced that it has received $30.0 million in a round of funding led by Scale Venture Partners with participation from Sorenson Capital and other investors. Sorenson Capital is a private equity and venture capital firm based in Lehi.

2/28/2019  Cloud Elements LLC announced that it has received $25.0 million in its Series C round of funding led by new investor Mercato Partners with participation from Grotech Ventures and other investors. Mercato Partners is a private equity and venture capital firm based in Cottonwood Heights.