Utah Deal Intelligence - November 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

11/1/2020 Norco, Inc. acquired Arc Services, LLC. The terms of the transaction were not disclosed. Arc Services operates as an automation and welding equipment repair facility and is based in West Jordan.

11/6/2020 Syneo, LLC acquired Integrated Medical Holdings, LLC, dba CATHTIP. The terms of the transaction were not disclosed. CATHTIP designs and manufactures catheter tipping and hole making equipment and is based in St. George.

11/9/2020 Adobe Inc. (NasdaqGS:ADBE) agreed to acquire Workfront, Inc. for $1.5 billion. The transaction closed on 12/7/2020. Workfront develops cloud-based enterprise work management solutions and is based in Lehi. Goodwin Procter LLP served as legal advisor to Workfront.

11/10/2020 Parkland USA agreed to acquire all assets of Sevier Valley Oil Company, Inc. The acquisition adds seven company retail locations and over 20 retail dealers. The terms of the transaction were not disclosed. Founded in 1949, Sevier Valley Oil engages in the distribution and retail of fuel, lubricants and propane and is based in Richfield.

11/11/2020 Inszone Insurance Services, Inc. acquired ISU Wiseman Insurance, LLC. The terms of the transaction were not disclosed. Founded in 1935, ISU Wiseman operates as an insurance agency that provides automobile, boat, building, business, commercial auto, health, life, and workers compensation coverages and is based in Provo.

11/16/2020 Commerce Technologies, LLC acquired DS Co, dba Dsco. The terms of the transaction were not disclosed. Dsco operates a drop shipping integration platform and is based in Lehi.

11/17/2020 Central Logic Inc. acquired Ensocare, Inc. The terms of the transaction were not disclosed. Central Logic develops transfer center and on-call scheduling technology solutions for healthcare systems and is based in Sandy.

11/17/2020 The AES Corporation (NYSE:AES) agreed to acquire the remaining 50% stake in Sustainable Power Group, LLC. The terms of the transaction were not disclosed. Sustainable Power owns and operates renewable electricity generation systems across the United States and is based in Salt Lake City.

11/17/2020 PDF Solutions, Inc. (NasdaqGS:PDFS) agreed to acquire Cimetrix, Inc. (OTCPK:CMXX) for $35.0 million. The transaction closed on 12/1/2020. Cimetrix is a global provider of equipment connectivity products for smart manufacturing and Industry 4.0 and is based in Salt Lake City.

11/12/2020 Executech Utah, Inc. acquired USPCNet, LLC. The terms of the transaction were not disclosed. Executech Utah provides information technology consulting services and is based in South Jordan.

11/23/2020 RV Retailer, LLC agreed to acquire Sierra RV. The terms of the transaction were not disclosed. Sierra RV owns and operates a recreational vehicles dealership and is based in Marriott-Slaterville.

11/24/2020 John Swire & Sons Limited agreed to acquire WesTech Engineering, Inc. The terms of the transaction were not disclosed. WesTech engineers and manufactures process equipment for customers in industrial, mineral, municipal water, and municipal wastewater industries and is based in Salt Lake City.

11/30/2020 IQGeo America Inc. agreed to acquire OSPInsight International, Inc. for $8.8 million. OSPInsight develops and operates a fiber optic network management software solution and is based in South Jordan.

Private Placements

11/6/2020 Falkbuilt Ltd. announced that it has received funding from new investor RETV Management LLC. RETV is a venture capital firm based in Park City.

11/6/2020 Acme Intergalactic, Inc., dba Blip, announced that it will receive $16.8 million in funding. As of 11/16/2020, the company received $15.4 million in its first tranche from 10 investors. Blip owns and operates a platform for purchasing and managing digital out of home advertising campaigns and is based in Provo.

11/9/2020 Extra Space Storage Inc. (NYSE: EXR) announced it made a $300.0 million investment in preferred stock of Jernigan Capital, Inc. (JCAP) in connection with the acquisition of JCAP by affiliates of NexPoint Advisors, L.P. Extra Space Storage is an owner and operator of self-storage properties and is based in Salt Lake City.

11/10/2020 MobiChord, LLC announced that it has received a round of funding from Periscope Equity, LLC. MobiChord provides on premise and subscription-based telecom service management software to manage telecom assets, expenses, and services and is based in Salt Lake City.

11/12/2020 GuideCX, Inc. announced that it has raised $10.0 million in a round of funding led by Sorenson Ventures with participation from EPIC Ventures, Orchard Ventures LLC, Album VC, and other investors. GuideCX develops client onboarding and implementation software and is based in Draper. Sorenson and Album are venture capital firms based in Lehi. EPIC is a private equity and venture capital firm based in Salt Lake City.

11/16/2020 CareXM announced that it has raised a round of funding from new investor DW Healthcare Partners. CareXM provides virtual care and patient engagement solutions for post-acute and non-acute healthcare providers and is based in Lehi. DW Healthcare Partners is a private equity and venture capital firm based in Park City.

11/17/2020 Trust & Will announced that it has received $15.0 million in its Series B round of funding led by Jackson Square Ventures with participation from Fifth Third Bancorp, AARP, Inc., Northwestern Mutual Capital, Rosecliff Ventures, Actium Partners, L.L.C., Hack VC, and other investors. Actium is a private equity firm based in Salt Lake City.

11/19/2020 Atreyu Group Holdings Corporation announced that it has received equity funding from Decathlon Capital Partners, LLC. Decathlon is a venture capital firm based in Park City.

11/23/2020 Black Rock Renewable Energy LLC announced that it will receive $25.0 million in funding. As of 12/2/2020, the company received $14.8 million in its first tranche from 9 investors. Black Rock Renewable Energy operates in the energy industry and is based in Sandy.

11/23/2020 HMBradley, Inc. announced that it has received $18.3 million in a round of funding led by aCrew Capital with participation from Pelion Venture Partners, Slow Ventures, Concrete Rose Capital, and other investors. Pelion is a venture capital firm based in Salt Lake City.

11/24/2020 Consensus Sales, Inc. announced that it will receive $6.1 million in funding. As of 12/1/2020, the company received $5.2 million in its first tranche from 9 investors. Consensus provides a Software-as-a-Service application that accelerates B2B sales with personalized demo automation software and is based in American Fork.