Utah Deal Intelligence - October 2020
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
10/1/2020 Alianza, Inc. acquired Message Hopper Inc. Alianza develops a cloud-based voice platform for cable operators, mobile operators, telcos, and other broadband providers and is based in Lindon.
10/1/2020 Forum Health, LLC acquired Wellness by Design, LLC. The terms of the transaction were not disclosed. Forum Health provides precision health services and is based in Salt Lake City.
10/2/2020 FLSmidth & Co. A/S (CPSE:FLS) agreed to acquire LMHales, LLC, dba KnowledgeScape. The terms of the transaction were not disclosed. KnowledgeScape develops digital optimization and image recognition software and control systems for the mineral processing industry and is based in Salt Lake City.
10/05/2020 Berkshire Hathaway Energy Company agreed to acquire Dominion Energy Questar Pipeline, LLC and QPC Holding Company, LLC for $1.7 billion. Dominion Energy Questar Pipeline, together with its subsidiaries, provides natural gas transportation and underground-storage services in Utah, Wyoming, and Colorado and is based in Salt Lake City.
10/06/2020 AmeriLife Group, LLC acquired Secure Administrative Solutions LLC. The terms of the transaction were not disclosed. Secure Administrative Solutions offers policyholder services, premium billing, claims, and underwriting services and is based in Salt Lake City.
10/06/2020 HireVue, Inc. acquired Sass Labs, Inc., dba AllyO. The terms of the transaction were not disclosed. HireVue develops and delivers video interviewing software solutions and assessment services for recruiting and hiring talent and is based in South Jordan.
10/6/2020 Allegis Advisor Group acquired Brokerage 360. In a related transaction, Allegis agreed to acquire Beacon Financial, Inc. The terms of the transactions were not disclosed. Brokerage 360 offers insurance brokerage services and is based in Salt Lake City. Beacon Financial provides insurance products, such as annuities, life insurance, and medicare and is based in Woods Cross. Allegis is an independent insurance marketing organization and is based in South Jordan.
10/14/2020 Pluralsight, Inc. (NasdaqGS:PS) acquired DevelopIntelligence L.L.C. Pluralsight operates a cloud-based technology skills platform and is based in Farmington.
10/27/2020 Veriship, Inc. acquired Sifted. The terms of the transaction were not disclosed. Sifted develops a data science-driven predictive logistics platform for shippers and is based in Kaysville.
10/28/2020 Patriot Rail Company LLC agreed to acquire Salt Lake Garfield & Western Railway Company Inc. (SLGW). The terms of the transaction were not disclosed. SLGW provides railroad transportation services and is based in Salt Lake City.
Private Placements
10/5/2020 ICON Health & Fitness, Inc. announced that it has received $200.0 million in a round of funding led by new investor L Catterton Partners with participation from returning investor Pamplona Capital Management LLP. ICON manufactures and markets fitness equipment under the brands NordicTrack, ProForm, Weider, Gold's Gym and FreeMotion Fitness and is based in Logan.
10/05/2020 Xenocor Inc. announced that it has received a round of funding from Mountain Pacific Venture Partners. Xenocor engages in designing and developing medical devices and is based in Salt Lake City. Mountain Pacific is a venture capital firm based in Salt Lake City.
10/6/2020 Brydge Technologies LLC announced that it has received a round of funding from Otter Products, LLC. Brydge Technologies manufactures and retails tablet keyboards and is based in Park City.
10/9/2020 Halia Therapeutics, Inc. announced that it will receive $15.0 million in funding. As of 10/22/2020, the company has received $6.3 million in its first tranche from 9 investors. Halia designs and develops therapies for inflammatory disorders and neurological diseases and is based in Salt Lake City.
10/19/2020 Carterra, Inc. announced that it will receive $7.0 million in funding. As of 10/23/2020, the company received $6.0 million in its first tranche from one investor. Carterra develops label-free biomolecular interaction analysis solutions and is based in Salt Lake City.
10/22/2020 Gravit, Inc. announced that it has raised $7.6 million in a round of funding led by new investor Next Frontier Capital with participation from Crane Group and returning investor EPIC Ventures. Gravit owns and operates content marketing platforms and is based in Salt Lake City. EPIC is a private equity and venture capital firm based in Salt Lake City.
10/28/2020 Bitt Inc. announced that it has received $8.0 million in an equity round of funding from existing investor Medici Ventures, Inc. This investment gives the investor the company’s controlling interest. Medici Ventures is an accelerator and principal investment arm of Overstock.com, Inc. specializing in investments in blockchain technologies and is based in Salt Lake City.
10/12/2020 YotaScale, Inc. announced that it has received $13.0 million in a round of funding from Felicis Ventures, Pelion Venture Partners, and other investors. Pelion is a venture capital firm based in Salt Lake City.
10/14/2020 Podium Education, Inc. announced that it has received $12.0 million in a round of funding co-led by new investors Album VC and Spring Tide Capital. Album VC, previously known as Peak Ventures LLP, is a venture capital based in Lehi.