Utah Deal Intelligence - December 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
12/3/2019 POWDR Corp. acquired SilverStar Ski Resort Ltd. The terms of the transaction were not disclosed. POWDR offers adventure lifestyle solutions and is based in Park City.
12/3/2019 Triple C Farms, LLC agreed to acquire substantially all assets of Sugarloaf Holdings, LLC for $20.7 million. Sugarloaf Holdings engages in farming and ranching operations and is based in Lehi. Triple C Farms produces a custom livestock feed and is based in Holden. Parsons Behle & Latimer is serving as legal advisor to Sugarloaf Holdings.
12/5/2019 CenExel Clinical Research acquired Research Centers of America, LLC. The terms of the transaction were not disclosed. CenExel Clinical Research provides medical and scientific support in the design and execution of clinical trials and is based in Salt Lake City.
12/9/2019 Clinical Innovations, LLC acquired SweetUms Sucrose Solution and BoogieBaby Oral and Nasal Suction Device from Sandbox Medical LLC. The terms of the transaction were not disclosed. Clinical Innovations engages in the research, development, and manufacture of medical devices that improve the lives of mothers and their babies and is based in Murray.
12/10/2019 Veriship, Inc. acquired Valence Services, LLC. The terms of the transaction were not disclosed. Valence provides software development services for Amazon sellers and is based in Salt Lake City.
12/12/2019 Southeastern Mills, Inc. acquired JMH International, LLC, dba JMH Premium. The terms of the transaction were not disclosed. JMH manufactures soup bases, flavor bases, dressings, stock concentrates, sauces, gravies and seasoning blends to custom formulations and is based in Park City.
12/12/2019 Visible Supply Chain Management, LLC acquired assets of TradeGlobal LLC. On December 19, 2019, Visible acquired Kansas Continental Express, Inc. The terms of the transactions were not disclosed. Visible provides customized business to business (B2B) supply chain management solutions and is based in Salt Lake City.
12/17/2019 1-800 CONTACTS, Inc. agreed to acquire 6 Over 6 Vision Ltd. The terms of the transaction were not disclosed. 1-800 CONTACTS retails lenses online for consumers in the United States and is based in Orem. Fried, Frank, Harris, Shriver & Jacobson LLP and Erdinast, Ben Nathan, Toledano & Co. are serving as legal advisors to 1-800 CONTACTS.
12/17/2019 AEGIX Global, LLC acquired AMTAC, Inc. The terms of the transaction were not disclosed. AMTAC designs, manufactures, and sells suppressors and is based in Salt Lake City. AEGIX Global manufactures weapons, optics, and ammunition in the United States and is based in Salt Lake City.
12/17/2019 Advice Media, LLC and Tree Line Capital Partners, LLC acquired Page 1 Solutions, LLC. The terms of the transaction were not disclosed. Advice Media provides digital marketing and website building services to medical professionals and is based in Park City.
12/18/2019 Conventus Orthopaedics, Inc. acquired all assets from IntraFuse, LLC. The terms of the transaction were not disclosed. IntraFuse develops intramedullary implants for invasive repair of fractures and is based in Logan.
12/19/2019 Beauty Industry Group, LLC acquired Ecotrade Europe Ltd. The terms of the transaction were not disclosed. Beauty Industry Group provides hair extensions and other beauty products and is based in Salt Lake City. Kirkland & Ellis International LLP served as legal advisor to Beauty Industry Group.
12/20/2019 Laborie Medical Technologies, Inc. agreed to acquire Clinical Innovations, LLC for $525.0 million. Clinical Innovations engages in the research, development, and manufacture of medical devices that improve the lives of mothers and their babies and is based in Murray. Simpson Thacher & Bartlett LLP is serving as legal advisor to Clinical Innovations.
12/23/2019 Mastercard Incorporated (NYSE:MA) agreed to acquire RiskRecon Inc. The terms of the transaction were not disclosed. RiskRecon develops a software that enables controlling third-party risk by providing vendor security assessments and is based in Salt Lake City.
M&A – Financial
12/4/2019 Thoma Bravo, LLC agreed to acquire Instructure, Inc. (NYSE:INST) for $2.0 billion from Praesidium Investment Management Company, LLC, EPIC Ventures and other investors. Instructure provides applications for learning, assessment, and performance management through a software-as-a-service business model worldwide and is based in Salt Lake City. EPIC is a private equity and venture capital firm based in Salt Lake City. Cooley LLP is serving as legal advisor to Instructure.
Private Placements
12/4/2019 Canopy Tax Inc. announced that it has received $13.0 million in a round of funding led by NewView Capital with participation from Pelion Venture Partners and other investors. Canopy Tax provides tax resolution, accounting workflow management, and practice management software platform for accountants and tax professionals and is based in Lehi. Pelion is a venture capital firm based in Salt Lake City.
12/5/2019 PolarityTE, Inc. (NasdaqCM:PTE) announced that it has entered into an equity purchase agreement with Keystone Capital, Inc. for up to $25.0 million. PolarityTE is a biotechnology and regenerative biomaterials company that focuses on discovering, designing, and developing a range of regenerative tissue products and biomaterials and is based in Salt Lake City. King & Spalding LLP is serving as legal advisor to PolarityTE.
12/10/2019 Creedence Energy Services, LLC announced that it has received funding in a recapitalization round from new investor Tower Arch Capital, L.P. Financing for the transaction was provided by KeyBank. Tower Arch is a private equity firm based in Salt Lake City. Dorsey & Whitney LLP served as legal advisor to Tower Arch.
12/11/2019 iFit.com announced that it has received $200.0 million in an equity round of funding from Pamplona Capital Management LLP and other investors. iFit.com operates as an online portal to provide virtual training on health and fitness and is based in Logan.
12/13/2019 Knot Standard Limited announced that it has raised a round of funding from new investor Decathlon Capital Partners, LLC. Decathlon is a private equity firm based in Park City.
12/17/2019 Vndly, Inc. announced that it will receive $35.0 million in an equity round of funding led by Insight Venture Management, LLC with participation from Battery Ventures, EPIC Ventures and other investors. EPIC is a private equity and venture capital firm based in Salt Lake City.
12/17/2019 Pronto announced that it has received $7.5 million in a round of funding led by Origin Ventures with participation from Signal Peak Ventures. Pronto is an engagement platform that instantly connects individuals and organizations via chat and video messaging and is based in Lehi. Signal Peak is a private equity and venture capital firm based in Salt Lake City.
12/17/2019 Bright Health announced that it has received $635.0 million in its Series D round of funding led by New Enterprise Associates with participation from Bessemer Venture Partners, Cross Creek Advisors, and other investors. Cross Creek is a venture capital firm based in Salt Lake City.
12/20/2019 Summersalt, LLC announced that it has received $17.3 million in its Series B round of funding led by new investor Mercato Partners with participation from Founders Fund, Lewis & Clark Venture Capital, LLC and other investors. Mercato Partners is a private equity and venture capital firm based in Cottonwood Heights.
12/20/2019 Carterra, Inc. announced that it has received $6.0 million in funding from 30 investors. Carterra develops label-free biomolecular interaction analysis solutions and is based in Salt Lake City.
12/20/2019 Vutiliti, Inc. announced that it will receive $12.0 million in funding. As of January 8, 2020, the company received $10.0 million in its first tranche from 13 investors. Vutiliti develops a real-time utility monitoring and reporting mobile application that guides consumers to conserve water and energy by reducing their utility bills and is based in Sandy.
12/30/2019 Neighbor Storage, Inc. announced that it has received $9.0 million in funding from 7 investors. Neighbor Storage owns and operates a peer-to-peer self-storage marketplace and is based in Salt Lake City.